Managing Director International Monitory Fund Christine Lagarde says Pakistan has graduated with success from a frontier market to an emerging market during the last three years.

Talking to Finance Minister Ishaq Dar in Islamabad, she said inclusion of Pakistan in the Morgan Stanley Index is a signal from the global financial markets that Pakistan can be placed amongst the world's emerging economies.

Briefing the IMF MD about economic reforms of the government, Ishaq Dar said fiscal consolidation has given fiscal space to the government to increase development spending from 300 billion rupees to 800 billion rupees.

The Finance Minister said government is now focusing on further expansion of the revenue base, improving export competitiveness and business climate and ensuring skill based education for the youth of the country.

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