Karachi: State Bank Governor Jameel Ahmed has stated that Pakistan’s inflation rate is expected to rise up to 7%.
Speaking at the Karachi Chamber of Commerce, he said that economic growth stood at 3.7% during the first nine months of the current fiscal year.
He added that inflation is expected to stabilize and begin declining in the second half of the next fiscal year.
According to the State Bank governor, SME financing is being expanded with a target of reaching 1,500 billion rupees by June 2028.
He noted that overall debt levels have increased, with domestic debt rising while external debt has declined.
He further explained that exports have been affected due to global economic conditions, resulting in a shortfall of around 2 billion rupees in export targets this fiscal year.
He also confirmed that work on new currency notes is underway and awaiting government approval.
