Posted 12/17/2023, 12:41:31 AM
Pakistan Faces Economic Headwinds as Remittances and Exports Fall While Imports and Debt Obligations Rise
- Remittances dropped 10.3% in July-November 2022 compared to 2021, resulting in a $1.3 billion loss
- Exports fell 4.4% in November and rose just 2% in July-November
- Imports are twice as high as exports over the 5-month period, putting pressure on the rupee
- Traders expect a 5-10% rupee depreciation in 2024 amid near-zero growth, low productivity, and high debt repayments
- Lack of political clarity and trust are hurdles to ambitious $100 billion foreign investment target