The economy’s monthly economic update outlook report states that inflation is likely to drop to 17.5% in May after remaining between 18.5% and 19.5% this month. In the first and second quarters, the growth rates were 2.5% and 1%, respectively.
The research identifies high interest rates and the repayment of foreign debts as major obstacles to the financial condition. The Finance Ministry reports that in just eight months, the financial imbalance has risen by 34.8% to Rs3,224 billion. Sustainable economic development necessitates the maintenance of financial discipline.
The ministry predicts modest economic growth this year and more growth the following year. The financial and external sectors have performed well in the first nine months of the current fiscal year.
