ISLAMABAD: Finance Minister Muhammad Aurangzeb has stated that Pakistan has made significant progress on the economic front, with the inflation rate now falling into single digits, marking a major achievement for the country’s financial management.
Speaking in an interview with Chinese media, Minister Aurangzeb emphasized that the country has witnessed substantial improvements in economic stability and foreign exchange reserves, which are currently sufficient to cover approximately two and a half months of imports.
He highlighted that Pakistan’s economic performance has received recognition on the international stage, and three major global credit rating agencies have upgraded the country’s credit rating in acknowledgment of these achievements.
The finance minister also provided an overview of Pakistan’s recent economic growth, noting that the Gross Domestic Product (GDP) increased by 3% in the previous fiscal year, while the government has set a target of over 4% growth for the current year.
Although he acknowledged that recent floods may have affected certain development projects, Aurangzeb expressed optimism that the country will achieve a 3.5% growth rate in the ongoing fiscal year.
In addition, the minister highlighted significant progress in the second phase of the China-Pakistan Economic Corridor (CPEC), noting that 24 joint projects were recently signed in Beijing, which are expected to open up new avenues for investment and further strengthen economic ties.
These initiatives are part of the government’s broader strategy to foster sustainable development, attract foreign investment, and enhance the country’s infrastructure and industrial capacity.
