Country's Growth Momentum Continues To Be On High Trajectory: FS

Country's growth momentum continues to be on high trajectory: FS

Finance Secretary Shahid Mahmood Thursday said country's growth momentum continued to be on a relatively high trajectory

ISLAMABAD, (UrduPoint / Pakistan Point News - 14th Dec, 2017 ) :Finance Secretary Shahid Mahmood Thursday said country's growth momentum continued to be on a relatively high trajectory and inflation continued to remain low and stable, helped by supportive fiscal and monetary policies.

These improving trends in our economy compelled us to start thinking of not going to International Monetary Fund (IMF), he said this while talking to media. He reiterated governments commitment to stay on path of fiscal consolidation supported by increase in Federal board of Revenue revenues and prudent expenditure management.

He said the government would continue its reform efforts for public sector enterprises and protecting the vulnerable segments of the society. He said during recent visit of the IMF mission to Pakistan, they were informed about the steps being taken by the government for improving economic situation of the country.

He said discussions largely focused on the recent economic developments and its outlook. Deliberations were also held on reform efforts undertaken by the government including fiscal, monetary, financial, energy policies and strengthening investment climate.

He said the mission recognized that Pakistan's growth momentum was on a high trajectory and the continued policy reforms were likely to contain external imbalances while supporting economic growth in the medium term.

He said the mission also recognized notable improvements in foreign direct investment, pickup in exports and recovery in workers' remittances. It also focused on addressing some of the vulnerabilities emanating from the higher level of imports and pressure on country's foreign exchange reserves. However, the mission welcomed the new policy actions to address these concerns.