Halal Tamweel

IMF urges Pakistan to rein in budget pressures | HALALTAMWEEL.COM

IMF urges Pakistan to rein in budget pressures

2/7/2012 11:35:15 AM

WASHINGTON: Pakistan needs to take immediate steps to tackle growing budget pressures and raise policy rates to contain inflation, the International Monetary Fund said on Monday.

The IMF projected a widening of Pakistan's budget deficit in fiscal 2011/12 to 7 percent of gross domestic product, much higher than the government's revised budget target of 4.7 percent.