No increase in debt-free inflows

Pakistan has shared a new macroeconomic framework with the International Monetary Fund (IMF), largely aligning with the Fund’s projections but indicating no significant increase in non-debt creating inflows—exports and remittances—during the next fiscal year as well. The external sector-related projections suggest that the country will continue to rely on the global lender in the medium term to stay afloat. The targets outlined in the framework for the fiscal year 2024-25 budgets appear subdued, reflecting Pakistan’s challenging economic realities, which offer no room for higher sustainable economic growth in the medium term.