Islamabad: The Finance Ministry has reported that the national economy is demonstrating resilience and stability on both fiscal and external fronts. According to the Ministry’s monthly Economic Outlook report, inflationary pressures have eased, aided by declining food and energy prices. The report highlights that fiscal consolidation measures are yielding positive results, leading to a primary surplus and a narrowed fiscal deficit.

The external sector remains robust, featuring a current account surplus, export growth, strong remittance inflows, and rising foreign investment. During the first eight months of the current fiscal year, the current account posted a surplus of $691 million, a significant improvement from the $1,730 million deficit recorded last year. Goods exports increased by 7.2 percent, reaching $21.8 billion compared to $20.4 billion in the previous year.

Workers’ remittances have shown impressive growth, with a 32.5 percent increase leading to a strong inflow of $24 billion, compared to $18.1 billion last year. The country’s total liquid foreign exchange reserves stood at $16 billion as of the 14th of this month, with the State Bank of Pakistan holding reserves of $11.1 billion.

In addition to these gains, the performance of the automobile sector has been notably encouraging. During the first eight months of the current fiscal year, the production of cars increased by 41.9 percent, trucks and buses by 105 percent, and Jeeps and pickups by 78.2 percent.

Furthermore, net federal revenues grew significantly by 45.3 percent to 6,362.5 billion rupees in the first seven months of the current fiscal year, compared to 4,379.5 billion rupees last year. This growth is attributed to improved tax and non-tax collection.