Economy Now Strong, Inflation Down: SBP Governor
Pakistan's economy has become more resilient to domestic and external shocks thanks to prudent policies and reforms, State Bank of Pakistan (SBP) Governor Jameel Ahmad informed foreign investors.
Pakistan's economy has become more resilient to domestic and external shocks thanks to prudent policies and reforms, State Bank of Pakistan (SBP) Governor Jameel Ahmad informed foreign investors.
Article outline
- What happened
- The key numbers
- The details
- The bottom line
Key points
- He remarked inflation has fallen sharply from FY23 highs to almost within the target range in FY26, despite a major oil rate shock.
- This came largely from SBP's own FX purchases, with external debt rising only marginally.
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In practice, the governor met executives from JP Morgan, Citibank, Deutsche Bank, Barclays, Bank of America, and others at the IMF-World Bank Annual Meetings in Bangkok from October 12 to 17, according to an SBP statement. Bank Lending is Rapidly Increasing. Key Numbers Shared With Investors.
He remarked inflation has fallen sharply from FY23 highs to almost within the target range in FY26, despite a major oil rate shock. Real GDP expansion reached 3.7 percent in FY26 and is projected at 3.5-4.5 percent in FY27.
While its forward liabilities fell from over $5.7 billion to below $1 billion, sBP's official reserves rose from less than $3 billion in February 2023 to $21.5 billion by October 9, 2026. This came largely from SBP's own FX purchases, with external debt rising only marginally.
While the primary fiscal balance posted a third straight annual surplus in FY26, he continued that the current account deficit is anticipated to stay within 0-1 percent of GDP in FY27.
Meanwhile, the governor additionally mentioned the staff-level agreement with the IMF on the EFF and RSF reviews, saying reforms have boosted investor confidence and led to sovereign credit rating upgrades. Stay Connected with ProPakistani.
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For now, economy Now Strong, Inflation Down: SBP Governor remains the part of the story worth watching, and further updates are likely as more details are confirmed.
