Finance Ministry’s report shows strong economic outlook

ISLAMABAD: The Ministry of Finance has released the monthly economic outlook report showing a record increase in remittances, along a host of other promising macroeconomic indicators.

The outlook report also shows that in the seven months of the current fiscal year (June 2024 to January 2025), exports and imports have also shown record increase, along with hike in foreign investment.

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The State Bank of Pakistan (SBP) reserves have increased and the Pakistani Rupee (PKR) value has stabilised, the report shows.

In exact numbers, remittances to Pakistan increased by 25.2 per cent from July to January. Exports increased by 9.7 per cent in seven months. However, imports showed a greater increase of 16.8 per cent in seven months.

The current account balance remained in surplus of over $680 million from July to January, the Finance Ministry’s report said.

Fiscal deficit also decreased by 36.1 per cent from July to December.

Moreover, the central bank’s reserves increased from $8 billion to more than $11.2 billion.

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In the domestic economy, revenues of the Federal Board of Revenue (FBR) increased by 26.2 per cent from July to December, while the non-tax income increased by 82 per cent from July to December.

Inflation rate reduced from 28.7 per cent to 6.5 per cent in 7 months.

The report also shed light on migration from Pakistan, showing that over 63,000 Pakistanis went abroad for work in January 2025.