Pakistan : 2017 Article IV Consultation-Press Release; Staff Report; Informational Annex; and Statement by the Executive Director for Pakistan

Author/Editor:

International Monetary Fund. Middle East and Central Asia Dept.

Publication Date:

July 13, 2017

Electronic Access:

Free Full Text (PDF file size is 1849 KB).Use the free Adobe Acrobat Reader to view this PDF file

Summary:

Macroeconomic resilience was strengthened during the three-year Extended Fund Facility (EFF)-supported program completed in September 2016: growth increased, the fiscal deficit was reduced, and foreign currency reserves recovered. Structural reforms were also set in motion: long-standing fiscal and energy sector constraints started to be tackled, and social safety nets were strengthened. Following completion of the program, there has been progress in implementing staff’s policy recommendations, although policy implementation has weakened and macroeconomic vulnerabilities have begun to re-emerge: fiscal consolidation slowed, the current account deficit widened, and foreign exchange reserves declined. On the structural front, the accumulation of arrears in the power sector has resumed, financial losses of ailing public sector enterprises continue to weigh on scarce fiscal resources, and exports remain low. Despite progress, poverty and inequality are still significant, and growth needs to become more inclusive.

Series:

Country Report No. 17/212

English

Publication Date:

July 13, 2017

ISBN/ISSN:

9781484309759/1934-7685

Stock No:

1PAKEA2017001

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

74

Please address any questions about this title to publications@imf.org