By Asif Shahzad
ISLAMABAD, May 19 (Reuters) – Pakistan’s central bank said on Friday GDP growth was likely to remain significantly lower this year than the previous year, with elevated inflation.
The bank made the findings in its half-year report, which said Pakistan’s macroeconomic conditions have deteriorated due to the global economic situation, uncertaintyover an IMF programme, forex constraints, political instability and flash floods.
It gave no new figures for growth on Friday. In October, the bank projected GDP growth would slow to 2% this fiscal year, though International Monetary Fund (IMF) said in April the figure would be 0.5%.
Pakistan is facing its worst ever economic crisis, with critical IMF funding needed to avert a balance of payment crisis delayed for months.
The report said that the contraction in federal development expenditures to contain deterioration in the fiscal position has posed challenges for the FY23 economic outlook.
Malta Public Transport has launched its Back to School campaign, offering eligible students the opportunity to register for a personalised Tallinja card free of charge, including postage...
Uber Technologies will cut 3,300 jobs, or roughly 10% of its global workforce, as part of an overhaul, as it looks to reduce the number of managers, the company said on Wednesday.
...
Updated 1200
Fiscal Council Warns Malta’s Deficit Could Exceed Government Forecast: The Malta Fiscal Advisory Council has warned that Malta’s public finances face a heightened risk of...
Updated 1200
Malta Economy Shows Modest July Improvement as Tourism and Lending Support Growth: Malta’s economic activity improved slightly in July but remained marginally below its l...
The European Commission has unveiled an ambitious package of tax reforms aimed at simplifying tax rules across the European Union, reducing compliance burdens for businesses and strength...
The European Union's new Migration and Asylum Pact enters into force on 12 June, ushering in the most significant reform of the bloc's migration framework in years and placing renewed em...
Malta Public Transport has launched its Back to School campaign, offering eligible students the opportunity to register for a personalised Tallinja card free of charge, including postage...
Uber Technologies will cut 3,300 jobs, or roughly 10% of its global workforce, as part of an overhaul, as it looks to reduce the number of managers, the company said on Wednesday.
...
Artificial intelligence has already transformed industries such as finance and education, but one of its most important tests may come in medicine: discovering new drugs.
Pharmaceutic...
Malta’s new pay transparency regulations, which came into effect on the 5th of June, aim to strengthen fairness and equality in the workplace, but employers are warning that the rushed i...
Malta Public Transport has launched its Back to School campaign, offering eligible students the opportunity to register for a personalised Tallinja card free of charge, including postage...
The autonomous bus project in Gozo commenced its public testing phase after the completion of the commissioning phase, marking another important milestone in the rollout of this innovati...
President Donald Trump announced late Saturday that he had called off planned U.S. strikes on Iran, saying renewed negotiations had raised hopes of easing the conflict and reopening ship...
Gulf states have backed a proposal aimed at reducing disruption to global oil trade by allowing Iran to collect voluntary fees from ships using the Strait of Hormuz, according to sources...
At least 32 people have been killed and more than 700 injured after two powerful earthquakes — measuring 7.2 and 7.5 — struck central Venezuela seconds apart, causing widespread destruct...
Thousands of Cuban security personnel have begun leaving Caracas after nearly two decades in Venezuela, as Washington ramps up efforts to dismantle the long standing alliance between the...
Ukraine wants peace but will not just give in to Russia at any price, President Volodymyr Zelenskiy said on Monday in a defiant speech marking Independence Day celebrations.
British...
Russia is open to listening to new proposals on how to reach a settlement on the Ukraine conflict, a senior Russian diplomat said, but any proposals should reflect the "realities on the...
