ISLAMABAD: Finance Minister Muhammad Aurangzeb unveiled the Economic Survey 2024-25 on Monday, acknowledging that Pakistan missed most of its key economic targets but expressed optimism for a turnaround next year. The GDP grew by 2.68 percent—below the 3.56 percent target—though an improvement from last year’s 0.2 percent contraction.
Inflation dropped significantly from 29 percent in 2023 to just 4.6 percent, and interest rates were slashed to 11 percent, helping reduce the public debt-to-GDP ratio. However, agriculture grew by only 0.6 percent due to a sharp 13.5 percent fall in major crops, while large-scale manufacturing contracted for a third consecutive year.
Aurangzeb attributed the country’s gradual recovery to policy stability and global support. He also confirmed India had attempted to block Pakistan’s IMF funding, which was eventually secured with backing from other international partners. A reform-focused budget is expected to follow, with promises of deeper structural changes.