Islamabad: Pakistan has recorded a fiscal surplus for the first time in nearly a quarter of a century, attributed to the government’s effective economic strategies. This notable achievement was announced by Khurram Schehzad, the Advisor to the Finance Minister, during a media briefing in Islamabad.

According to Radio Pakistan, Khurram Schehzad disclosed that the fiscal surplus was registered in the first quarter of the current financial year, amounting to 1.8 trillion rupees. He highlighted that the current account deficit has also transitioned into a surplus during the first four months of the fiscal year.

Schehzad elaborated on the country’s improved financial metrics, noting that the primary surplus has reached 2.6 percent of GDP, a significant increase from 0.4 percent in the same period last year. Additionally, the tax to GDP ratio has risen by 0.1 percent compared to the previous year.

He also mentioned a marked decrease in the inflation rate, which has fallen to 8.7 percent from a previous high of 2
9 percent. Discussing the Pakistani rupee, Schehzad noted its appreciation by four percent, alongside a substantial increase in foreign exchange reserves. Moreover, exports have seen an eight percent rise.

Schehzad pointed out that Pakistan’s improved economic standing has been recognized by international rating agencies, with Fitch and Moody’s both upgrading the country’s ratings by one notch. The stock exchange has also experienced bullish trends, further signaling positive economic prospects for the nation.