Pakistani exports to register massive increase to $35 billion in FY 2020: IMF Report

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The IMF forecast Pakistan’s exports increasing to $32.5bn in 2020 from $30.2bn in 2019 while imports to reduce to $59.5bn next year from $62.9bn this year compared to $67.8bn in 2018.

The current account deficit has been projected at 2.6pc of GDP in 2020 compared to 4.5pc in 2019 and 5.4pc in 2018.

Gross official reserves would generally remain in the existing band or $25.9bn in 2020 against $25bn in 2019 and $24bn in 2018.

The foreign exchange coverage would, on the other hand, improve to 2.2 months of imports in 2020 compared to 1.4 months in 2019 and 1.9 months in 2018.

The IMF advised oil-importing countries to raise growth and accelerate structural reforms to attract investment, including foreign direct investment and achieve growth friendly fiscal consolidation, strengthen business environment and increase inclusion.

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