Islamabad: Prime Minister Muhammad Shehbaz Sharif has attributed recent improvements in Pakistan’s economic stability to the government’s implementation of prudent economic policies and reforms, including a strategic right-sizing policy.
According to Ministry of Information and Broadcasting, Sharif expressed satisfaction with the significant decrease in the inflation rate, as indicated by the Pakistan Bureau of Statistics. He highlighted the drop of the Consumer Price Index to a record low in July 2024, which brought the inflation rate down to 11 percent. Furthermore, he noted optimistic forecasts from economists predicting a continued decline in inflation this month.
The Prime Minister also pointed to the upgrading of Pakistan’s credit rating by Fitch and Moody’s as international recognition of the country’s positive economic indicators. He expressed confidence in the visible, positive impacts these changes will soon have on the economy. Additionally, Sharif mentioned substantial relief measures undertaken by both federal and Punjab governments, including reductions in electricity bills and petroleum prices, contributing further to economic relief and stability.