Islamabad: Pakistan’s economy is expected to return to its positive growth trajectory in July, following a six-month period during which the national fiscal situation was seen to contract in the wake of the (ongoing) coronavirus pandemic and its attendant lockdown restrictions, according to two recent publications by the Ministry of Finance — a news source reported.
According to the Finance Ministry’s report, the resumption in economic activities across the country further led to economic growth, based on the Monthly Economic Indicator (MEI). However, the inflation rate is also expected to rise due to the rising petroleum prices.
In its report, the ministry further predicted that if the number of coronavirus cases in the country continue to decline, business activities will get back to normal. This, in turn, will bode well for the economy.
Reportedly, the economy had contracted by about 4.9% in the last quarter of the previous fiscal year and overall, the MEI had recorded an average growth of 0.4% due to the COVID-19 spread.