BusinessNegative to stable: Moody's upgrades Pakistan's economic outlook

Negative to stable: Moody’s upgrades Pakistan’s economic outlook

Karachi (PPI) Global rating agency Moody’s has stabilized Pakistan’s rating from negative given the expected reduction in inflation and economic pressure in Pakistan.

According to Moody’s, the rate of economic growth in Pakistan this year may be up to 2 percent, while the rate of inflation will decrease from 29 percent to 23 percent compared to last year.

Moody’s has stabilized the rating of Pakistan’s banking sector. According to Moody’s, the rate of economic growth in Pakistan this year may be up to 2 percent, while the inflation rate will decrease from 29 percent to 23 percent compared to last year.

According to the rating agency, the profitability of the banking sector may decline next year due to higher interest rates and higher taxes. Pakistan helped banks in difficult times without harming depositors.

The banks’ profitability was helped by better funding, liquidity, economic challenges, and the political crisis. Moody’s says that the economic and financial stress on Pakistan’s banking system is easing.

Petrol Price in Pakistan Increased by Rs. 4.13

Related Stories

Pakistan Inflation to hit high of 25% this fiscal year: ADB

Pakistan Inflation to hit high of 25% this fiscal year. Asian Development Bank has released the annual outlook report...

A record decline in lending from banks to the private sector

In the current financial year, there has been a record decline in the provision of credit from banks to...

Petrol Price is likely to be more expensive from tomorrow

There is a fear of increasing the petrol price across the country from tomorrow. According to the sources, the petrol...

Trending on DiariesPK