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This would be perhaps the toughest Ramazan that most Pakistanis have experienced in their entire lives as the inflation has skyrocketed and it seems to go up in the coming weeks, Dawn said in its editorial.
By the end of June 2023, Pakistan`s interest-to-revenue ratio, which was the worst in the region (just behind Sri Lanka) at 42 per cent, will balloon up to 54 per cent.
The central bank raised the benchmark interest rate by 300 bps, taking the total increase to 1,050 bps since January 2022 to counter rising inflation. Get more World News and Business News on Zee Business.
The SBP s MPC expects inflation to rise further in the next few months as the impact of these adjustments unfolds before it begins to fall, albeit at a gradual pace.