economic
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Sometimes good economic news is bad | The Express Tribune
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[ad_1] KARACHI: Some recent numbers on Pakistan’s economy are seemingly showing promise. Yet, this phase of the economy carries a paradox; what appears as good news might also spell trouble. It’s crucial for policymakers to avoid the temptation of focusing solely on favourable data. A significant economic figure showcasing improvement is the current account deficit,…
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Israel-Hamas war economic ‘earthquake’ for MIddle East: IMF
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[ad_1] An Israeli army self-propelled howitzer fires rounds near the border with Gaza in southern Israel on Oct. 11, 2023. — AFP The war between Israel and Hamas has darkened the horizon for a world economy that is already experiencing weak growth and is an economic “earthquake” that will have challenging repercussions for the Middle…
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‘Pakistan needs careful economic management to get stability’ | The Express Tribune
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[ad_1] ISLAMABAD: The World Bank (WB) on Tuesday suggested Pakistan to undertake the much-needed fiscal reforms including a reduction in tax exemptions and a broadening of the tax base, terming them “critical” for economic stability and sustainable economic growth. “Careful economic management and deep structural reforms will be required to ensure macroeconomic stability and growth,”…
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Adherence to economic adjustment programme crucial: ABD | The Express Tribune
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[ad_1] The Asian Development Bank (ADB) in its latest report presents a bleak outlook for Pakistan’s economy and cautions that staying the course on an economic adjustment programme till April 2024 would be critical in restoring stability and gradual recovery of growth. The Asian Development Outlook September 2023, published on Wednesday, noted that Pakistan witnessed a…
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Ministry expects slow economic recovery | The Express Tribune
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[ad_1] ISLAMABAD: The Ministry of Finance said on Friday that Pakistan’s economy would recover slowly and its inflation rate would decrease gradually, the forecasts which suggest that there is no short-term respite from the current economic crisis that has impacted every household. In its Fiscal Risk Statement for the current financial year, the ministry underlined…
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Stocks take hammering as KSE-100 slumps massively amid economic uncertainty
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[ad_1] In this file photo, Pakistani stockbrokers watch the latest share prices on a digital board during a trading session at the Karachi Stock Exchange (KSE). — AFP/File KARACHI: Bears strengthened their hold on the Pakistan Stock Exchange (PSX) on Thursday as the benchmark index slumped massively over 1,200 points or more than 2% on…
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Economic committee weighs belt-tightening measures | The Express Tribune
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[ad_1] ISLAMABAD: Amid significant risks to the official budget deficit target due to higher-than-budgeted spending on interest payments, a cabinet body on Tuesday discussed further tightening of the belt by slashing development spending, particularly expenses on provincial schemes. In the inaugural meeting of the Cabinet Committee for Economic Revival (CCoER), the interim Finance Minister, Dr…
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Evergrande shares plunge 79% exposing China’s economic woes
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[ad_1] e (FILES) A woman leaves the China Evergrande Centre in Hong Kong on July 28, 2022. Shares in troubled Chinese property giant Evergrande plummeted more than 80 percent in Hong Kong on August 28, 2023 morning after the lifting of a 17-month trading suspension.—AFP China Evergrande Group’s shares plunged 79% on Monday after they…
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Body for economic revival formed | The Express Tribune
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[ad_1] ISLAMABAD: Interim Prime Minister Anwaarul Haq Kakar has approved the constitution of a cabinet committee for economic revival, giving it the mandate to suggest measures for long-term economic growth and offer stimulus packages to the private sector. The PM gave the go-ahead for notifying an 11-member committee for finding solutions to Pakistan’s economic ills…
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Economic woes leave textile industry in tatters | The Express Tribune
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[ad_1] Factory worker Lubna Babar was made redundant at the beginning of the year, a victim of a crisis in the Pakistan textile industry that has seen it lose ground to more nimble Asian competitors. “When you lose your job, your life comes to a close,” the 43-year-old from Lahore told AFP. “We’ve been working…
