ISLAMABAD: The country’s economic indicators are on a positive growth trajectory, according to Minister for Planning and Development Ahsan Iqbal. During the presentation of the Monthly Development Update, Iqbal highlighted the recovery process following the economic strain caused by the Gulf war, noting improvements across several sectors.

According to Radio Pakistan, Iqbal reported that inflation has decreased to 9.2 percent in July, down from 11.7 percent in May. The Minister attributed this reduction to government efforts to maintain open supply chains and control hoarding and profiteering during challenging times.

Iqbal also pointed out a positive trend in workers’ remittances, which reached 3.6 billion dollars in July, marking a 13 percent increase compared to the same month the previous year. This reflects the confidence of overseas Pakistanis in the country’s economic direction. Furthermore, the Minister noted a 5 percent growth in Large Scale Manufacturing, which is expected to boost exports.