ISLAMABAD, Jun 15 (APP):Pakistan’s economy is in recovery mode, with growth seen accelerating and inflation falling, though the Middle East conflict remains a wild card that could reverse those gains, Finance Minister Muhammad Aurangzeb said. The country’s economy is expected to grow 4% next year while inflation is predicted to ease to 8.2% from 11.7%, Aurangzeb told Bloomberg TV, attributing the improvements to the current fiscal year. “We are in …
Finance sees faster growth, inflation dip coming
ISLAMABAD, Jun 15 (APP):Pakistan’s economy is in recovery mode, with growth seen accelerating and inflation falling, though the Middle East conflict remains a wild card that could reverse those gains, Finance Minister Muhammad Aurangzeb said.
The country’s economy is expected to grow 4% next year while inflation is predicted to ease to 8.2% from 11.7%, Aurangzeb told Bloomberg TV, attributing the improvements to the current fiscal year.
“We are in a good place on fiscal side with the fiscal deficit at an all time low and achieving a primary surplus,” Aurangzeb said. “On the FX reserves we are on at least 3 months of export cover but ultimately we have to move towards export led growth.”
He said, the government has given a clear route of direction of travel in the budget as to how we are now going to move from stabilization to sustainable and expanding growth.
