Key View

• Pakistan's automotive manufacturing industry is dominated by Completely Knocked Down kits (CKD), and virtually all other automotive components for local manufacturing are imported, which means that automakers will be highly exposed to currency fluctuations.
• Pakistan's rupee will continue weakening further in the near term as

Key View

• We at Fitch Solutions have revised our forecast for Pakistan’s fiscal deficit to 10.8% of GDP in FY2019/20 (July-June) from 7.5% previously, and up from 9.0% in FY2018/19.
• Our forecast is informed by our expectations for expenditure to far outstrip the amount forecast in the budget, particularly in the terms of defence and social

Key View:

• We expect the State Bank of Pakistan (SBP) to remain on hold at 13.25% in FY2019-20 (July-June), following its decision to keep monetary policy unchanged in the final committee meeting of the year on November 22.
• We believe that inflation is likely to remain contained within the SBP’s projection of 11-12% for FY2019-20.
• That said

Key View

• We expect Pakistan’s non-hydro renewables sector to achieve robust growth over the coming decade, with further upside risks given developments in the sector in recent months, driven largely by the solar power segment. We forecast solar capacity to grow by an annual average of 9.4% between 2019-2028, taking total capacity over 3.8GW by

Key View

• The Pakistani government continues to introduce measures aimed at improving the domestic oil and gas sector, focusing on strengthening incentives for hydrocarbon exploration, streamlining regulations and easing rules for foreign investors.
• The positive changes in the upstream are also set to be replicated across the downstream and

Key View

• We at Fitch Solutions expect Pakistan’s balance of payments to strengthen over the coming months, as the USD6bn bailout package from the International Monetary Fund (IMF) will help Pakistan to rebalance its economy.
• Foreign direct investment as part of the China-Pakistan Economic Corridor projects and loan packages from other