ISLAMABAD Oct 20 (Online): Macro Poverty Outlook report for World Bank and International Monetary Fund meetings said reason of increase in poverty is the record high prices of food items and energy, petroleum levy, social and economic inequality from energy tariff adjustment.
According to the report, rising prices of food items, weak labour, markets and flood damage are also one of the causes of poverty.
According to the report, the inflation rate is expected to be 26.5 percent during the fiscal year 2024, while foreign exchange reserves are expected to be less than one month’s imports in the coming fiscal year.
According to the report, the current account deficit is expected to gradually increase to 1.5 percent of GDP in 2025, with economic slowdown, inflation and flood disasters affecting poor households.
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