The country’s economy has demonstrated sustained positive developments during the first five months of the current fiscal year, indicating an optimistic outlook for the ongoing fiscal year (2024-25), finance ministry said in a report released here Friday.
“Macroeconomic fundamentals have strengthened, marked by a further deceleration in CPI inflation with stable food prices, effective fiscal consolidation resulting in fiscal surplus, current account surplus supported by increased exports and remittances, and an accommodative monetary policy stance,” says Monthly Economic Update and Outlook for December.
According to the report, these developments have bolstered the business and consumer confidence, reflected in significant private sector credit uptake and a sharp rise in the Pakistan Stock Exchange. Prudent fiscal management and strategic reforms are paving the way for sustainable economic growth, it adds. The report says efforts were afoot to ensure agriculture sector achieves self-sufficiency for Rabi 2024-25 as the government has set a wheat production target of 27.920 million tonnes from an area of 9.262 million hectares.
To achieve this target, concerted efforts are underway to ensure the timely availability of essential farm inputs, including agricultural credit, quality seeds, fertilizers, and mechanization support. Meanwhile, agriculture credit disbursement reached Rs. 925.7 billion during July-November FY2025, an increase of 8.5 percent compared to Rs. 853.0 billion during the same period last year.—APP
