Pakistan economy grew by 1.73% in the second quarter of the financial year ending June 30, the government reported on Wednesday. The first-quarter growth estimate was also revised upward, reflecting stronger economic performance.
According to the National Accounts Committee, the first-quarter real GDP growth increased to 1.34% from an earlier estimate of 0.92%. This upward revision was driven by higher-than-expected growth in the services sector. The improved performance highlights the sector’s resilience despite economic challenges.
This announcement came just hours after Pakistan secured a new $1.3 billion financing agreement with the International Monetary Fund (IMF). The IMF acknowledged Pakistan’s efforts in improving macroeconomic stability. The deal provides crucial support as the country aims to strengthen its financial position.
Meanwhile, Pakistan central bank has projected full-year GDP growth between 2.5% and 3.5%. It expects economic activity to gain further momentum in the coming months. Several factors, including policy reforms and external financial assistance, could contribute to this positive outlook.
In addition, rising industrial output and a steady services sector are supporting economic expansion. The government has also implemented measures to stabilize inflation and attract investment. These steps are expected to improve business confidence and stimulate growth.
However, economic challenges persist, including external debt obligations and currency fluctuations. The government remains focused on securing additional foreign investment and trade partnerships. Strengthening export revenues and improving fiscal management are also key priorities.
Experts believe that continued reforms will be essential for long-term economic stability. Sustainable growth will depend on maintaining investor confidence, ensuring policy consistency, and managing financial risks effectively.
Overall, Pakistan’s economy is showing signs of recovery, supported by policy adjustments and international financial backing. The coming months will be crucial in determining the sustainability of this growth trend.
