In September and October, Pakistan’s annual consumer price inflation is expected to drop even further to 8–9%, according to a finance ministry economic forecast study released on Friday.
For the first time in over three years, annual inflation fell into single digits in August, slowing to 9.6%.
The International Monetary Fund approved $7 billion in loans on Wednesday, which gave the faltering economy a boost.
The first payment, valued at $1 billion, was received, the central bank of Pakistan announced on Friday.
The $350 billion economy must continue to practice fiscal restraint and increase its tax base in order to comply with the bailout’s criteria.
According to the study, budgetary consolidation was a priority for the government.
