Imran Khan To Remain In Jail, PMLN Govt To Stay Stable: Fitch Report

In its latest report, the credit rating agency Fitch said that Imran Khan will remain in jail, and the PMLN Govt  will stay stable for 18 months.

The report goes ahead to indicate that inflation in Pakistan will drop by the end of this fiscal year.

Fitch Credit Rating Agency, based in London, is forecasting the State Bank of Pakistan to likely cut interest rates by the end of the fiscal year to 14 percent.

Economic targets of the Pakistani government are challenged to decrease the fiscal deficit from 7.4% to 6.7% in the next fiscal year budget.

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The Pakistani government’s hard economic decisions according to Fitch are in line with the IMF Program. On the other hand, floods and droughts perish the agriculture sector of the country, causing an economic risk to the external payments on Pakistan’s economy.

The report says independent candidates supported by PTI founder had remarkable success in the February 8 elections. Protests in country’s cities of Pakistan may have their effects on economic activities.

Fitch believes that PTI leader Imran Khan will remain in jail, and the current PMLN Govt will stay stable for next one and a half year.

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Fitch also anticipates and predicts that the current government, supported by the IMF, will implement all essential economic reforms. The scenario following this is that in Pakistan, a technocratic government will also emerge or take over the current one after it has served its term.

The Fitch report has triggered significant discussion within economic and political circles in Pakistan. Analysts are debating the implications of a stable government led by PMLN for the next 18 months, particularly in the context of ongoing economic reforms mandated by the IMF.

The predicted decrease in inflation by the end of the fiscal year is seen as a positive sign, potentially easing the financial strain on Pakistani citizens who have been grappling with high prices.

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