Finance ministry hopes economic recovery despite third corona wave
Top Story
April 28, 2021
ISLAMABAD: Amid the third wave of COVID-19, the finance ministry has highlighted risks to different sectors, saying the economic recovery got hampered but Pakistan is grappling with the fresh wave.
With timely appropriate measures taken by the government to tackle the third wave, risks have been mitigated thus better prospects of economic growth are visible, the ministry hoped. It also projected that all in all, inflation is expected to remain between 8.0-9.5 per cent next month. However, from the beginning of the next fiscal year, assuming the absence of any new supply shocks, favorable base effects may start to drive Y-o-Y inflation to lower levels. However, independent economists believe the monthly inflation will enter into a double-digit from next month.
Finance ministry expects economic recovery despite third corona wave
Top Story
April 28, 2021
ISLAMABAD: Amid the third wave of COVID-19, the finance ministry has highlighted risks to different sectors, saying the economic recovery got hampered but Pakistan is grappling with the fresh wave.
With timely appropriate measures taken by the government to tackle the third wave, risks have been mitigated thus better prospects of economic growth are visible, the ministry hoped.
It also projected that all in all, inflation is expected to remain between 8.0-9.5 per cent next month. However, from the beginning of the next fiscal year, assuming the absence of any new supply shocks, favorable base effects may start to drive Y-o-Y inflation to lower levels. However, independent economists believe the monthly inflation will enter into a double-digit from next month. In its monthly outlook report, the ministry stated that the third wave of the virus was still taking a toll on different parts
China s plan to keep its economy growing
The bank said it expects inflation in the region to fall to 2.3% this year from 2.8% in 2020, when disruptions from the pandemic pushed food prices sharply upward in some places.
Looking ahead to 2022, the region s economies comprised of 45 countries from the Asia-Pacific are projected to grow 5.3%. Meanwhile, inflation is forecast to rise to 2.7% in 2022.
Threats to growth
Not every country in the region can expect such positive economic news. The ADB forecast that Myanmar s economy will contract nearly 10% this year, after a military coup in February disrupted the country.
This contributed to the trimming of Southeast Asia s 2021 growth forecast to 4.4% from a previous estimate of 5.5%.
China private jet use soars due to effective control of pandemic: media chinadaily.com.cn | Updated: 2021-04-27 10:32 Share CLOSE A private jet is on display in Shenzhen, South China s Guangdong province, on Aug 2, 2018. [Photo/IC]
China s use of private jets by companies and wealthy individuals has sharply increased as the country s economic recovery prompts a shift in business travel, according to Financial Times.
Due to effective control of COVID-19 pandemic and steady recover of economy, the country s domestic use of jets are up 87 percent this year, compared to the same period two years earlier, the report said, citing data company WingX Advance GmbH.