SBP Monetary Policy: Key Pointers

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MG News | November 24, 2017 at 10:03 PM GMT+05:00

  • Prospects of achieving 6% target of GDP continue to be strong
  • Inflation to remain well below the target of 6% in FY18
  • Tax collection during July to September record an increase of22%
  • Notable increase registered in exports and foreign direct investment
  • LSM growth surpassed its earlier expectation
  • LSM records increase of 8.4% in July-Sept vs 1.8% last corresponding year
  • Growth due to improve security conditions and better power supply, low inflation and stable interest rates
  • Demand for services is also expected to rise in FY18
  • Introduction of regulatory duties is expected to help curb some growth in imports during the coming months.
  • FDI inflows have risen to US$ 940 million during July to October period
  • Rise in FDI, indicates improving sentiments regarding the economy
  • Despite this positive development, SBP’s foreign exchange reserves stand at US$ 13.5 billion on November 17, 2017 down from US$ 16.1 billion at end-June 2017.
  • Progress on CPEC related projects and other official proceeds will be instrumental in managing the overall balance-of-payments deficit.

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