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Inflation and unemployment will rise further in Pakistan, IMF

Washington: The International Monetary Fund (IMF) has forecast further rise in inflation and unemployment in Pakistan during the current financial year.

According to the International News Agency, a report released by the International Monetary Fund (IMF) has revealed that the country’s gross domestic product (GDP) is expected to improve from negative to 1% Inflation in Pakistan will increase by 10.2% this year.

The report further said that the inflation rate is likely to be 8.8 percent next year. In addition, in 2021, the unemployment rate in Pakistan is expected to increase from 4.5 percent to 5.1 percent.
This has been revealed in a report on the economies of all the countries of the world by the International Monetary Fund, which has estimated the economy for the next five years in the light of the effects of the corona virus. Earlier, a report by the World Bank also expressed fears of increasing poverty in Pakistan.

It may be recalled that the IMF report came at a time when prices of flour, pulses, sugar, milk, eggs, meat and other food items have risen sharply in Pakistan and Prime Minister Imran Khan has blamed rising prices. He has also announced to monitor himself for which he has also given targets to Tiger Force.

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