State Bank Governor Jameel Ahmad says that a significant reduction in inflation is expected during the second half of the current financial year.
International investors have met Governor State Bank Jameel Ahmed on the sidelines of IMF and World Bank meetings.
According to the spokesperson, representatives of global banks Barclays, JP Morgan, Standard Bank and Jefferies met with Governor State Bank in Morocco.
In this regard, the spokesperson of State Bank says that Governor State Bank Jameel Ahmed informed the international investors about the economy of Pakistan.
The State Bank Governor said that the measures taken to stabilize the economy have begun to bear fruit, with inflation falling to 31.4 percent in September after peaking at 38.0 percent in May.
He says that a significant reduction in inflation is expected during the second half of the current fiscal year, the current account deficit has decreased from 4.7 percent to 0.7 percent of GDP in the fiscal year 2023 and it is hoped that the current account deficit will decrease in the fiscal year 2024. It will be between 0.5 to 1.5 percent of GDP.
State Bank Governor Jameel Ahmad further said that the State Bank’s foreign exchange reserves have increased from a low of $3.1 billion to $7.6 billion, and the standby agreement with the IMF will help stabilize the economy.
He has also said that the forward book target of $4.2 billion agreed with the IMF for September 2023 has been achieved, Pakistan is able to achieve sustainable economic growth in the medium term with the support of multilateral and bilateral partners. will be done.
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