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Washington: State Bank of Pakistan Governor Jameel Ahmed has said that Pakistan’s economy is on the path of recovery, inflation is decreasing, the external account has become surplus, and foreign exchange reserves are increasing significantly.
Speaking to major global financial institutions and investors during the Spring Meetings of the IMF and the World Bank in Washington, Jameel Ahmed said effective policies have been adopted to bring stability to the economy, which is yielding positive results.
He said now the foreign exchange reserves are being increased not through loans but by stabilizing the economy, and the target is to take them to $14 billion in the next few months.
According to the Governor of the State Bank, Pakistan’s GDP growth is expected to be 3% in the current fiscal year. While global rating agencies are also appreciating the success of the reform process.
He said that the future strategy is based on further strengthening the economic structure and ensuring sustainable growth.