State Bank of Pakistan (SBP) Governor Jameel Ahmad on Tuesday said that Pakistan’s economy has moved onto a firmer footing, with growth expected to range between 3.25% and 4.25% in FY26.
Speaking at the annual meeting of the Pakistan Textile Council (PTC) in Karachi, the governor highlighted recent macroeconomic gains, while PTC leaders urged immediate policy measures to boost export competitiveness.
Ahmad noted that Pakistan had weathered severe economic turbulence since 2022. Foreign exchange reserves, which had plunged to $2.8 billion in early 2023, now stand at $14.3 billion. The current account deficit has narrowed, and remittances have climbed above $38 billion in FY25, largely due to a shift from informal to formal channels.
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He added that inflation eased to a historic low of 3.2% in June 2025, enabling the SBP to slash the policy rate from 22% to 11% over the past year. Fiscal consolidation, reforms in exchange companies, and stable external debt have further bolstered market confidence.
“Pakistan’s economy is now on more stable ground, with growth projected at 3.25–4.25% in FY2026. Our focus remains on preserving stability, building reserves, and keeping inflation within the 5–7% target range,” the governor affirmed.
