Pakistan economy hit by violence also: IMF

 KARACHI: International Monetary Fund (IMF) has said that Pakistan’s economy was not only hit by the floods, but also by the recent violence that perpetrated in the cities.

IMF released economic outlook said that the losses incurred due to flight of capital was somewhat eased out by the overseas Pakistanis enhanced remittances and the increase in exports.

Pakistan’s economic growth during 2011-12 is expected at 3.8 percent, while the government has fixed the GNP growth rate at 4.2 percent besides financial deficit is expected at 5.3 percent of GNP (Gross National Product) and current account deficit at 1.7 percent of GNP, said the report.

Similarly, imports estimated at around $46 billion, while the exports trailing behind at an estimated $30 billion during 2011-12, the report further said.