Says despite challenges, Pakistan achieved 3.7 per cent GDP growth, which is the highest in the past four years
Finance Minister Muhammad Aurangzeb on Thursday presented the Pakistan Economic Survey, outlining key economic indicators ahead of the federal budget announcement.
While giving a brief overview, the finance minister said Pakistan entered the current financial year in July amid trade uncertainty, mainly due to global tariff discussions.
“How would the world’s tariffs be dealt with? And by the end of July, we had reached a point where we could get into a competitive position with respect to our exports, especially to the US. After that, we saw a flood in August and September. And in October, there was a rescue and relief effort,” he added.
Aurangzeb said the country also faced a regional conflict in March, describing these as “three exogenous factors” that were not anticipated at the time of last year’s budget.
“These are the challenges we faced during the year. They tested the resilience of Pakistan. We faced them properly and remained on the trajectory from stabilisation towards growth, and we remained steadfast on that journey,” he said.
Aurangzeb said that despite external and internal challenges, Pakistan achieved GDP growth of 3.7 per cent, which he said was the highest rate recorded in the past four years.
The finance minister said there had been a broad consensus that GDP growth would exceed 4 per cent, but the conflict in the Middle East had affected the outlook.
This is a developing story.