Pakistan Achieves 3.7% GDP Growth, Says Finance Minister

Muhammad Aurangzeb says Economic Survey reflects economic resilience despite global uncertainty, regional tensions, and domestic challenges.

ISLAMABAD: Finance Minister Muhammad Aurangzeb presented the key findings of Pakistan’s Economic Survey, stating that the report not only reflects the country’s current economic position but also outlines the broader economic journey over the past year.

Addressing the media, the finance minister said Pakistan faced multiple challenges during the previous fiscal year, including economic uncertainty, flood-related impacts, and extensive rescue and relief operations. He added that global tariff pressures and broader international uncertainties also affected economic performance.

Aurangzeb said the government successfully managed three major economic challenges and maintained stability despite both external and internal pressures.

According to the survey, Pakistan recorded a GDP growth rate of 3.7% during the current fiscal year, marking the highest growth level in the last four years.

The finance minister noted that regional and international developments, including tensions in the Middle East, had influenced economic expansion. He said the government’s target had been to push GDP growth beyond 4%, though external factors affected the final outcome.

Highlighting sectoral performance, Aurangzeb stated that 16 out of 22 manufacturing sectors recorded growth, while cement demand increased by 10%, indicating improved industrial activity.

He further said the services sector achieved its strongest growth in four years, contributing positively to overall economic momentum.

On fiscal indicators, the finance minister reported that the fiscal deficit remained contained at 0.7% of GDP, while the primary balance remained in surplus. He also announced a 10% increase in Federal Board of Revenue (FBR) collections, reflecting improved revenue performance.

The government described these indicators as signs of continued economic recovery and resilience amid a challenging global and regional environment.