Remittances, exports, rupee value fall, inflation surges in FY 2022-23
Business
Remittances, exports, rupee value fall, inflation surges in FY 2022-23
ISLAMABAD (Dunya News) – In the last fiscal year, a decrease in remittances, exports and foreign investment was recorded, the Ministry of Finance has issued an economic outlook report.
According to the report, imports, current account deficit, rupee value and financial reserves also recorded a decrease, while inflation, FBR revenues, non-tax income recorded an increase, remittances decreased from $31.3 billion to $27 billion dollars in one year.
In the economic outlook report, it is said during one year, exports decreased by 14.1 per cent and imports decreased by 27.3 per cent, value of rupee recorded a decrease of Rs67.37 and the country’s financial reserves decreased from $1.37 billion.
The Federal Board of Revenue (FBR) revenue increased by 16.6 per cent in one year and the board collected revenue of Rs7,169 billion last financial year.
Inflation increased from 12.3 per cent to 29.2 per cent, production of major industries decreased by 14.4%.
