Country cannot recover from crisis without bailout: Asad.

Islamabad -- Finance Minister Asad Umar on Tuesday told to the Lower House that the country cannot recover from the current fiscal crisis without securing a bailout. 'We had said even before elections, we need a bailout.'

He informed lawmakers that Pakistan faces a deficit of $35 billion and the rupee's value has depreciated, as a result, the country has sought foreign loans.

'The current account deficit was $25 billion when the Pakistan People's Party left [in 2013]. In December 2017, Miftah Ismail was the finance minister. The rupee was depreciating and the government's expenditures were increasing at a faster pace,' he said. 'We approached the International Monetary Fund and our friends,' said Umar and added that the economy needs support as the budget deficit has increased by more than Rs900 billion.

'The recent agreement with Saudi Arabia was...

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