Govt to come up with mini-budget; what’s next?
As the government finally makes up its mind to come up with a mini-budget and address other concerns of the International Monetary Fund (IMF) that are set to further stoke up inflation, the unfolding political uncertainties continue to pose challenges in materialising their reasonable outcomes towards macroeconomic recovery path. Based on the prevailing and anticipated events in the run-up to the next elections, another IMF programme with perhaps tougher conditions is almost a foregone conclusion but navigating through these troubled waters would not be an easy job. This comes amid unfavourable international environment marred by high interest and inflation rates, global economic slowdown, uncertain commodity prices and an unending Russia-Ukraine war. To begin with, the authorities would soon be taking tough decisions that are bitter pills to the voters on the cusp of elections sooner in the two provinces, including the major battleground of Punjab, followed by across the country in general elections.