According to an economic outlook report released by the finance ministry on Friday, Pakistan’s annual consumer price inflation is expected to decline further to 8-9% in September and October.
In August, inflation slowed to 9.6%, marking the first time it fell into single digits in nearly three years.
On Wednesday, Pakistan’s struggling economy received a boost with the approval of $7 billion in financial assistance from the International Monetary Fund (IMF).
The central bank confirmed on Friday that it had received the first installment of $1 billion from the IMF.
As part of the bailout terms, the $350 billion economy is required to maintain fiscal discipline and expand its tax base.
The report also highlighted the government’s commitment to fiscal consolidation.
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