IMF gives positive review of Pakistan's economic management
Pakistan's economy has improved, the International Monetary Fund was quoted by Wall Street Journal
LAHORE: (Web Desk) – International Monetary Fund (IMF) Director of the Middle East and Central Asia Department Masood Ahmad has concluded his visit to Pakistan and has said that the financial conditions of the country are improving.
“Pakistan’s economy is improving, helped by prudent monetary and fiscal policies, strong capital inflows, robust remittances, and lower international oil prices. The authorities have made progress with consolidating macroeconomic stability, strengthening public finances, and re-building foreign exchange buffers”, Masood was quoted as saying by a press release by IMF.
Masood also said that the improving situation came as an opportunity for Pakistan to achieve higher and sustainable growth in the years to come. He cautioned, however, that to achieve those targets, Pakistan will have to further expand its tax base and generate resources to reduce public debt. He also advised the government and financial experts to increase spending in public investment, education and health.
The key priorities that he suggested Pakistan to invest in included energy sector, restricting the public sector and privatizing the dead enterprises. He said that IMF will continue to support Pakistan in its robust economic reform agenda under its Extended Fund Facility (EFF).
Masood also praised the commitment of Prime Minister Nawaz Sharif and the economic team of the government with improving the economic situation of the country.
