SBP foresees current year inflation rate at 20/22 pc

KARACHI: Pakistan exports current fiscal year are expected to remain in the range of $21.50 billion to $23 billion.

SBP annual report for the year 2007-08 said that the economic growth rate during fiscal year 2007-08 worked out to 5.8 percent, short of the target by 1.2 percent. The report said that the economic growth rate during the current fiscal year was expected to range 3.5 percent to 4.5 percent, while the inflation rate to vary between 20-22 percent and monetary expansion expected to remain between 12-13 percent. Current fiscal year financial deficit to GDP expected in the range of 4.3 percent to 4.8 percent and current account deficit likely to remain between 6.2 percent to 6.8 percent. The report further said that the remittances from the Pakistani expatriates feared to fall short by $200 million from the targeted $7.70 billion.