Finance Minister Highlights Positive Signs in Pakistan’s Economy

Finance Minister Highlights Positive Signs in Pakistan’s Economy
Islamabad: Federal Finance Minister Muhammad Aurangzeb said Pakistan’s economy is on the path to recovery. He highlighted signs such as economic stability, lower inflation, and improved foreign exchange reserves.
In an interview with Chinese media, the minister stated that inflation has dropped to single digits. He also mentioned that the policy interest rate has been reduced and foreign reserves have increased, now sufficient to cover two and a half months of imports.
Aurangzeb said Pakistan’s economic performance has been praised internationally, with three major global rating agencies upgrading the country’s credit rating.
He added that the GDP grew by 3% last fiscal year and the government aims for over 4% growth this year. However, he warned that flooding could affect these targets.
The finance minister expressed hope that Pakistan will achieve 3.5% growth.
Regarding the China-Pakistan Economic Corridor (CPEC), Aurangzeb said significant progress has been made in its second phase, with 24 joint projects recently signed in Beijing. New investment opportunities are also being considered.
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