Ministry expects slow economic recovery.

ISLAMABAD -- The Ministry of Finance said on Friday that Pakistan's economy would recover slowly and its inflation rate would decrease gradually, the forecasts which suggest that there is no short-term respite from the current economic crisis that has impacted every household.

In its Fiscal Risk Statement for the current financial year, the ministry underlined that a slow but steady recovery of the economy was expected.

Pakistan's real GDP growth was just 0.29% in the last fiscal year, which too is disputed by the IMF that put it at negative 0.5%.

The finance ministry hoped that over the medium term, economic growth was expected to rise to levels even higher than the five-year average growth of 4% and eventually reach 5.5% in 2026.

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Commenting on the inflationary pressures, the report underlined that 'a gradual decrease in inflation rate due to improvement in domestic and global factors and PKR stabilisation is expected over...