Pakistan\'s economic outlook improves

State Bank of Pakistan (SBP) Governor Jameel Ahmad has emphasised that the country's economic outlook has got better, following improvement in macroeconomic indicators, caused by measures taken by the government and central bank. In his message read out by Executive Director Muhammad Haroon Rasheed at Independence Day celebrations at the SBP, the governor pointed out that inflation had significantly decreased to 11.1% in July 2024, down from 28.3% in July 2023. Highlighting the country's previous struggle with macroeconomic indicators, he noted that the current account deficit had widened to $17.48 billion in fiscal year 2021-22, which contracted to $3.2 billion in FY23 and further reduced to $0.68 billion in FY24.