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Economists have urged the government to reduce the rising public debt as it will become a major source of macroeconomic instability, low growth, unemployment and poverty in the country. The government should scale down public debt, improve its composition, condition debt contracting with returns and manage it professionally. This was the gist of the 'National Debt Conference' jointly organised by PRIME and Business Recorder in collaboration with Friedrich Naumann Foundation.

Adviser to Finance Ministry, Rana Asad Amin has said that a fully functional debt management cell would be made operational by next month to manage and reduce the country's debt-to-GDP ratio. Speaking as chief guest at the concluding session of National Debt Conference jointly organised by PRIME and Business Recorder in collaboration with Friedrich Nauman Foundation, Rana said the government plans to reduce public debt to less than 55 percent of GDP by June 2017 and move towards a sustainable profile.
Some one million Italians took to the streets of Rome Saturday for a demonstration organised by Italy's largest trade union to protest Prime Minister Matteo Renzi's plans to overhaul the labour market. As hundreds of thousands of Italians snaked through the capital calling for Renzi to do more to boost employment and protect the rights of new entries to the job market, organisers put the number of protesters at one million and called on the premier to take note.
Growth in China's auto market, the world's biggest, will halve to 7 percent this year weighed down by a slowing economy, the head of an industry body said on Saturday. "Personally, I think growth this year can reach 7 percent," Dong Yang, secretary general of the China Association of Automobile Manufacturers (CAAM), told reporters on the sidelines of an industry conference in Shanghai.
Gulf Arab oil exporters will have to reform their state spending and make cuts in some areas because of weak oil prices, Kuwaiti Finance Minister Anas al-Saleh said on Saturday. "We must undertake comprehensive economic reforms including the reform of imbalances in public finances," Saleh told a meeting of Gulf Arab finance ministers, central bank governors and the International Monetary Fund in Kuwait.
China Development Bank has agreed to sponsor an awareness conference for prospective investors for the construction of the 4,500MW Diamer Bhasha Dam. This transpired during Finance Minister Ishaq Dar's meeting with Executive Vice President of China Development Bank Zhao Xiaoyu in Beijing. The minister said there is potential in energy, power, mining, agriculture and infrastructure sectors and the Bank would reap further dividends if it teamed up to develop these potentials.
As many as 450 foreign and local investors have confirmed their participation to the Board of Investment (BoI) for the two-day International Investment Conference scheduled for Monday-Tuesday (October 27-28). Federal government has arranged a two-day International Investment Conference with the objective of highlighting the available opportunities for investment in various sectors of the country's economy. The conference is being organised by BoI.
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln