The International Monetary Fund (IMF) has supported the revenue target for the financial year 2007-08 and Pakistan government s intention to contain current expenditure to make room for higher development outlays. According to press statement issued by the IMF at the conclusion of an IMF Article IV Mission to Pakistan, the mission held discussions with the Pakistani authorities on recent economic developments, prospects, and policies under the annual Article IV Consultations. Pakistan s economy continued to perform well in 2006/07 with real GDP growth increasing to 7 percent. Average inflation remained near 8 percent, but the 12-month rate has declined to 6.5 percent in recent months , the statement added. According to it, this outcome has been made possible by continued prudent macroeconomic management and structural reforms that have encouraged a strong pick-up in domestic and foreign investment. --more
