Weekly Economic Roundup

February 14, 2021 (MLN): The latest weekly roundup covers the latest economic and financial data releases over the past week to keep an eye on next week's trends. 

  • The Weekly Sensitive Price Indicator (SPI) for the Combined Group increased by 0.81% during the week ended Feb 11, 2021 while the SPI increased by 9.17% compared to the corresponding period from last year.
  • Pakistan's Forex Reserves decreased by USD 89.60 Million or 0.44% and the total liquid foreign reserves held by the country stood at USD 20,073.50 Million on Feb 04, 2021.
  • The Large Scale Manufacturing Index (LSMI) output increased by 11.40% for Dec 2020 compared to Dec 2019 and 13.51% if compared to Nov 2020.
  • The government on Friday approved the emergency use of another Chinese COVID-19 vaccine from CanSino Biologics in Pakistan.
  • Morgan Stanley Capital International (MSCI), a leading provider of research-based indexes and analytics, announced changes in constituents of its global indices in its February 2021 Quarterly Index Review which would be effective from Feb 27, 2021.
  • The non-government sector has borrowed another net sum of Rs.62.07 billion during the week ended January 29, 2021, which brings the cumulative net borrowing for ongoing fiscal year FY2021 to Rs.287.31 billion. The net borrowing as of the prior week was recorded at Rs.225.25 billion.
  • The government of Pakistan has acquired an additional debt of Rs.74.59 billion during the week ended January 29, 2021, which brings its total net borrowing for the ongoing fiscal year 2021 to Rs.198.2 billion. As of the prior week, the government had borrowed a net sum of Rs.123.62 billion.
  • The government failed to achieve its target of decline in public debt to GDP ratio to 84%, rather it rose to 87.2% of GDP in the fiscal year 2019-20 compared to 86.1% in FY19.
  • The total deposits held by Commercial Banks have shown a robust growth of 16% YoY to Rs 17.1 trillion in January 2021.
  • The National Electric Power Regulatory Authority (NEPRA) on Wednesday has notified an increase of Rs 1.5359 per unit in power tariff on account of variations in the fuel charges for the month of December 2020.
  • Central Development Working Party (CDWP) approved 04 projects worth Rs. 6.8 billion and recommended 01 project worth Rs. 43.32 billion to ECNEC for further consideration.
  • The Federal Government released Rs 476.6 billion for various ongoing and new social sector uplift projects to date under its Public Sector Development Programme (PSDP) 2020-21.
  • Pakistan's trade deficit for 7 months (July-January) FY21 was USD 14.96 billion compared to a deficit of USD 13.82 billion from the corresponding period from FY20.
  • Russia's Sputnik V has become the third COVID-19 vaccine to be approved by Pakistan for emergency use after China's Sinopharm and the one developed by AstraZeneca and Oxford University, the country's health minister said on Tuesday.
  • The government released funds amounting to Rs1,686.644 million during the first seven months of the current fiscal year to execute eight petroleum projects under the Public Sector Development Programme (PSDP 2020-21) against the total allocation of Rs1,786.160 million.
  • The savings of the Central Directorate of National Savings (CDNS) has reached the free deposit of Rs 450 billion in the last 7th months starting from July 1 to February, 01 in the current Fiscal Year (FY) 2020-21.
  • Out of 73 eligible countries to Debt Service Suspension Initiative (DSSI), Pakistan has the highest annual debt servicing payments to official bilateral creditor countries in 2020, standing at $4.26 billion wherein China is by far the largest creditor with $2.92 billion to Pakistan, followed by Japan with $388 million.

Copyright Mettis Link News

Posted on: 2021-02-14T13:16:00+05:00