Pakistan’s economy is anticipated to expand by approximately 4 percent during the current fiscal year, Finance Minister Muhammad Aurangzeb announced, highlighting signs of a steady recovery through improving economic indicators.
Addressing the EU-Pakistan High-Level Business Forum in Islamabad, the minister emphasized advancements in critical sectors and noted that the country’s macroeconomic situation has improved compared to the previous year. He pointed to a current account surplus exceeding $1 billion in March, increasing remittances, and consistent growth in IT exports as key factors underpinning the positive outlook.
The forum, organised jointly by the European Union and Pakistan, convened policymakers, investors, and business leaders to discuss opportunities for enhanced economic collaboration. Given that the EU remains Pakistan’s largest export market, the dialogue extended beyond trade to include investment, technology transfer, and sustainable development initiatives.
Officials expressed confidence in foreign exchange reserves, which are expected to reach around $18 billion by the end of June, providing a solid buffer for import payments. Additionally, institutions such as the Asian Development Bank have revised Pakistan’s growth forecast upwards, further boosting optimism about the country’s economic direction.
In a related development, Prime Minister Shehbaz Sharif held meetings with European officials and business representatives, reaffirming Pakistan’s dedication to economic stability amid global and regional challenges. Both parties recognized the potential to deepen cooperation in sectors including energy, information technology, and infrastructure development.
