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Moody's Expects Pakistan's New Mini Budget to Foster Exports and Import Substitution

From the Blog riazhaqPakistan's new government led by Prime Minster Imran Khan has inherited large twin deficits. The new "mini budget" announced by Finance Minister Asad Umar "will support Pakistan's manufacturing sector, fostering exports and import substitution, and help narrow the current-account deficit", says a January 31, 2019 report by Moody's investor service. The report adds that the tax incentives given to manufacturing and exports-oriented industries "will keep Pakistan's budget deficits wider for longer, potentially eroding the credibility of government efforts to achieve fiscal consolidation." Pakistan Mini Budget Announced January 23, 2019. Source: Shajar Capital Here's an excerpt of Moody's report on the immediate downsides of the measures announced by Umar on January 23, 2019: "Wepakistanblogs.blogspot.comRead Full PostComments

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