Islamabad: Pakistan has recorded a fiscal surplus for the first time in 24 years, a development attributed to the government’s economic policies.

According to Ministry of Information and Broadcasting, Khurram Schehzad, the Finance Minister’s Advisor, conveyed the news to media representatives in Islamabad. The surplus was recorded in the first quarter of the current financial year, amounting to 1.8 trillion rupees.

Schehzad highlighted that the primary surplus has risen to 2.6 percent of GDP, a significant increase from 0.4 percent in the same period last year. Additionally, the current account deficit for the first four months of the fiscal year has also turned into a surplus. The tax-to-GDP ratio saw a slight increase of 0.1 percent compared to the previous year.

He further noted that the inflation rate has decreased to 8.7 percent from 29 percent. The Pakistani rupee appreciated by four percent, and foreign exchange reserves have seen a notable rise. Exports have increased by eight percent, supporting the positive economic trends.

International rating agencies, including Fitch and Moody’s, have improved Pakistan’s ratings by one notch, reflecting the positive economic indicators. The stock exchange also showed bullish trends, further signaling economic stability.