ISLAMABAD – Federal Minister for Finance and Revenue Senator Aurangzeb has launched Pakistan Economic Survey 2024–25, outlining the country’s economic performance over the past fiscal year.
The announcement is being made live on national television, just one day ahead of the federal budget presentation. He highlighted key economic indicators, stating that Pakistan’s Gross Domestic Product (GDP) grew by 2.7% during the outgoing fiscal year. He noted that the GDP growth target for the upcoming year has been set at 4.2%, reflecting the government’s commitment to economic revival and stability.
One of the major highlights of this year’s survey is a remarkable 30.9% increase in remittances from July 2024 to April 2025. Additionally, Pakistan recorded a surplus in its current account for the first time during this period — a milestone achievement, according to the finance minister.
The Economic Survey also reveals a significant improvement in fiscal management. The fiscal deficit has been reduced to 2.6% of GDP, while the primary balance shows a surplus of 3% — pointing toward a more disciplined and controlled budgetary approach.
Aurangzeb further noted that proactive monetary policy and improved macroeconomic fundamentals have enabled the policy rate to be brought down to 11%. Lending to the private sector also showed strong momentum, with loans worth Rs681 billion disbursed between July 2024 and May 2025.
The document provides a detailed overview of inflation trends, trade performance, public debt, employment statistics, demographic changes, and the economic impacts of climate change. It is expected to serve as a critical input for the federal budget 2025–26, which will be presented tomorrow.
In terms of development expenditure, the government has approved a total outlay of Rs3,483 billion under the Annual National Development Programme (ANDP) for the next fiscal year. Of this, Rs1,100 billion will go to federal development projects, while Rs2,383 billion has been allocated for provincial programs.
The National Economic Council (NEC), which endorsed the survey, emphasized that these improvements are the result of coordinated efforts by both federal and provincial governments to stabilize and grow the economy.
More to follow…
