ISLAMABAD, July 30 (Xinhua) -- Pakistan's economy moved toward stability in the last fiscal year through June with decreasing inflation, a surplus in the primary fiscal account until May, a negligible current account deficit, and a stable exchange rate, the Ministry of Finance said Tuesday.
In the real sector, agriculture outperformed, and large-scale manufacturing is set to take off, the ministry said in its Economic Update and Outlook report for July.
In June 2024, the consumer price index (CPI) inflation reached the cusp of the single-digit range, said the report.
The external account position improved due to contained imports resulting from prudent fiscal and monetary management, while exports and remittances increased significantly, it added.
To further strengthen stability, the Pakistani government has recently reached a staff-level agreement with the International Monetary Fund (IMF) on a 37-month extended fund facility arrangement for 7 billion U.S. dollars, according to the report. ■
