Business

Weaknesses in the economy still persist, says SBP

KARACHI: State Bank of Pakistan (SBP) has pointed out in its second quarterly report that the weaknesses in the national economy still persist, ARY News reports.

The central bank of Pakistan, in its report has stated that the balance of payment in the country has improved due to the receding oil prices in the international market.

The report also mentioned that the circular debts have also been increased.

It was further mentioned that the low Gross Domestic Product (GDP) ratio is still influencing the economic performance of the country whereas the energy shortage is the biggest hurdle in investment.

The State Bank has also stated that the tax collection rate in the first half of the fiscal year increased by 13.6 percent while the inflation rate was at four to five percent, which is the lowest in the past 10 years.

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