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Pakistan's economy likely grew 2.7 per cent in the fiscal year ending June 2025 after expanding 2.5pc in the previous year, the government’s annual snapshot of economic performance showed yesterday, a day before the federal budget is unveiled.
The government initially targeted 3.6pc growth in gross domestic product for this financial year, but lowered that to 2.7pc last month. The International Monetary Fund expects growth of 2.6pc this financial year and 3.6pc next.
Prime Minister Shehbaz Sharif’s government is aiming for 4.2pc growth next fiscal year amid competing priorities, including boosting investment, maintaining a primary surplus, and managing defence spending amid tensions with India.
Finance Minister Muhammad Aurangzeb said he did not want the economy to expand too quickly, which has led in the past to a surge in imports.
“Don’t get into a sugar rush,” Aurangzeb said. “Because the moment we go into a consumption-led growth, and our imports go haywire and our balance of payments problem intensifies, that sort of derails the entire discussion,” he told a Press conference.
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