Karachi: The State Bank of Pakistan has said in its latest economic review report that the country’s economy is gradually moving towards stability, but challenges remain. According to the report, the monetary policy reports will be released within two weeks of the January and July policy meetings, while in June and July, the Monetary Policy Committee maintained the interest rate at 11 percent.
The statement said that despite the expected increase in remittances from overseas Pakistanis, the current account deficit is likely to remain at about one percent of GDP. The State Bank has predicted that foreign exchange reserves could reach $15.50 billion by December, while the economic growth rate is expected to be between 3.25 and 4.25 percent.
According to economists, these figures indicate that if external and internal financial discipline remains good, investment opportunities and economic activities can further develop in the coming months.
