Pakistan's financial rating 'negative B' intact, outlook stable

Pakistan's financial rating 'negative B' intact, outlook stable

Islamabad: Referring to weak external and financial positions and the slowdown of the economy, Fitch Ratings retained Pakistan's ranking in the rating of Pakistan's long-term forex issuers.
According to the report, New York's agency is one of the 3 largest rating agencies globally, indicating that with debt rising to GDP, economic growth at 2.8 percent and fiscal deficit rising to 7.9 percent, inflation Interest payments and weak revenue growth are Pakistan's weaknesses.

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He said that strict economic policies are leading to further decline in GDP growth, which was estimated at 2.8 per cent in FY 2020, 3.3 per cent in FY 2019 and 3.4 per cent with a slight improvement in FY 2021. While inflation has also been steadily increasing due to the depreciation of the rupee and the increase in energy tariff.

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