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In late January, Pakistan lifted the artificial cap on its currency, causing the rupee to plunge 20% against the dollar in a few days. The government raised fuel prices by 16%. And the Pakistani central bank raised its interest rate by 100 basis points to battle the country's highest inflation in decades, expected to be as high as 26% in January.
The Pakistani rupee depreciated against the US dollar until around the start of the 21st century, when Pakistan's large current-account surplus pushed the value of the rupee up versus the dollar. Pakistan's central bank then stabilized by lowering interest rates and buying dollars, in order to preserve the country's export competitiveness.
[14] [15] [16] Pakistani officials predict that CPEC will result in the creation of upwards of 2.3 million jobs between 2015 and 2030, and add 2 to 2.5 percentage points to the country's annual economic growth. [17] As of 2022, it has enhanced Pakistan's exports and development capacity and has provided 1/4th of its total electricity. [18]
This year, Ford County’s nearly 200 wind turbines owe the county $3.8 million, representing about 10% of the property taxes due to the county. AP’s analysis found wind farms there are three of ...
2023–24 Pakistan federal budget. The 2023–24 Pakistan federal budget was the Federal Budget implemented by the government of Pakistan for the fiscal year 2023–24. The revised budget was presented to Parliament on 25 June, 2023 after Finance Minister Ishaq Dar introduced new taxes and expenditure cuts. The budget was accepted the next day.
However, Southwest said, revenue for each seat flown one mile – a closely watched measure of pricing power – will fall by 4% to 4.5% compared with the same quarter last year. In April, the ...
August 5, 2024 at 6:09 PM. By Lewis Krauskopf and David Randall. (Reuters) -From massive U.S. tech stocks to bitcoin, a spasm of economic worries is forcing an unwind of the year’s most popular ...
In New York City, approximately 430,000 jobs were lost and there were $2.8 billion in lost wages over the three months following the 9/11 attacks. The economic effects were mainly focused on the city's export economy sectors. [ 17] The GDP for New York City was estimated to have declined by $30.3 billion over the last three months of 2001 and ...