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Pakistan Macroeconomics

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Just about three years ago, the PPP and PML(N) agreed to form a coalition on the basis of what was then termed, “a common agenda”. Today, the marriage of convenience has been conveniently turned into a divorce. The walking out of PML(N) may have several motivations and implications best left for pedantic political analysts to peruse over and over again. But one motivation simply stands obvious: ‘a fragile economy and the threats it faces – with which the PML(N) would not want to be associated. Nobody could accuse the PPP government of inheriting the economic mess it did it three years ago, but they have not done much to address them either. It took the government three years and three finance ministers to rationalise the size of the cabinet – and that too only when it faced threats and ultimatums from its coalition partners. It also failed to reduce the current expenditure and increase ...


A one-off high receipt from the Coalition Support Fund ($760 mn), earlier transfers of SBP profits, and possibly some accounting gimmicks to show subsidies of power and other sectors in contingent liabilities, made it possible for fiscal managers to post a budget deficit at 1.3 percent of GDP for the second quarter. Traditionally, fiscal deficit for the first half of a fiscal year turns out to be 40 percent of the full-year deficit. By taking this ...


 



 
Index Closing Chg%
Arrow DJIA 17,804.80 0.15
Arrow Nasdaq 4,765.38 0.36
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyOctober
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln