{"id":41436,"date":"2023-12-29T18:50:09","date_gmt":"2023-12-29T18:50:09","guid":{"rendered":"https:\/\/news.pakistaninewspaperlist.com\/inflation-projected-to-ease-to-20-22pc-for-fy24-sbp\/"},"modified":"2023-12-29T18:50:09","modified_gmt":"2023-12-29T18:50:09","slug":"inflation-projected-to-ease-to-20-22pc-for-fy24-sbp","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/inflation-projected-to-ease-to-20-22pc-for-fy24-sbp\/","title":{"rendered":"Inflation projected to ease to 20-22pc for FY24: SBP"},"content":{"rendered":"

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The State Bank of Pakistan (SBP) on Friday said the inflation rate will ease to around 20-22 per cent in the 2024 financial year, according to a report issued weeks ahead of the February 8 general elections.<\/p>\n

According to the SBP governor\u2019s annual report on the past fiscal year, the bank will continue to make decisions to prevent high inflation from becoming entrenched.<\/p>\n

The report added that the economy missed its fiscal and primary surplus targets in FY23 by a large margin, with real GDP contracting to 0.2pc.<\/p>\n

Pakistan experienced its highest-ever inflation in FY23 with the rupee dipping to historic lows until a $3 billion bailout<\/a> from the International Monetary Fund averted an imminent sovereign default in July.<\/p>\n

SBP Governor Jameel Ahmed also said in his report that average inflation, measured by the consumer price index, surged to 29.2pc<\/a> in FY23, which was around the upper bound of the bank\u2019s revised projections.<\/p>\n

Ahmed added that the central bank would keep inflation expectations anchored to achieve its medium-term target of 5-7pc.<\/p>\n

Fiscal and policy measures taken before and after the bailout are stabilising the $350bn economy as Pakistan approaches the national election.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

The State Bank of Pakistan (SBP) on Friday said the inflation rate will ease to around 20-22 per cent in the 2024 financial year, according to a report issued weeks ahead of the February 8 general elections. According to the SBP governor\u2019s annual report on the past fiscal year, the bank will continue to make […]<\/p>\n","protected":false},"author":2,"featured_media":41437,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/i.dawn.com\/large\/2023\/12\/29205455ca0c823.jpg?r=205518","fifu_image_alt":"","footnotes":""},"categories":[13],"tags":[],"class_list":["post-41436","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t