State bank of pakistan Archives

11Jun

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Budget 2020, Trending

Economic Survey of Pakistan 2019-20 : Highlights

Economic Survey of Pakistan 2019-20 was presented to the Prime Minister of Pakistan today. Basically a gloomy book of statistics wrapped in red ribbon. It was not at all good for PTI's led Government, as govt misses key macro indicators by a margin. Here are few highlights of the Economic Survey of Pakistan 2019-20. A Major Miss: GDP Growth Target was 4% but it falls drastically to a negative figure after 50's. It falls to -0.38%. A Major Plus : In the FY 2019-20 , Exchange rate remained stable and Foreign Direct investment (FDI) grows by 127%. An improved ranking in World Bank Ease of Doing Business Index (EDB). Another Plus : B3 Credit Rating by Moody's. A big blow: Per Capita income reduced to 1355 $ compared to 1455$ and 1652 $ in the year of Fy 2019 and 2018 respectively. A B...

Economic Losses and Shrinkage due to Covid-19

Economic Losses and Shrinkage due to Covid-19 A meeting was held to assess the situation of the economy in post-pandemic scenario. The meeting was chaired by Advisor to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Sheikh, where most of the government departments were present along with international agencies. The Minister for Industries and Production Mr. Hammad Azhar and adviser to the Prime Minister on Commerce and Investment, Mr. Abdul Razak Dawood were also present in the meeting. The participants of the meeting reached consensus over the shrinkage of the economy and overall economic losses incurred by the pandemic. It was told in the meeting that economic size is shrunk due to losses mainly due to the Covid-19 outbreak and its spillover effect not only this year...

Massive decline of $1.7bn in SBP reserves recorded at the end of May, 2020

According to the data provided by the State Bank of Pakistan (SBP) on Thursday, May 29, 2020, there is a huge drop of $1.7 billion in its reserves. It was due to the repayment of debt to other countries and financial institutions. Whereas there is a slight increase in the reserves of commercial banks, from $6.52 billion to $6.55 billion. The total foreign exchange reserves are now at $16.9 billion. This decrease in reserves of SBP, also become a cause of the decline in the net reserves of state bank of Pakistan. This decline will cause to depreciation in the value of Pakistani Rupees and appreciation in Dollars. This decline will also affect the country’s liquid foreign reserves. From the data released by the state bank of Pakistan, the total liquid foreign reserves will decrease by ...