Islamabad (TDI): Finance Minister’s Advisor Khurram Shehzad has said that the fiscal balance turned into a surplus after 24 years as a result of sensible economic policies of the government.
Talking to the media in Islamabad on Monday, he said that the fiscal surplus balance was recorded for the first quarter of the current financial year, totaling 1.8 trillion rupees.
Shehzad added that the current account deficit in the first four months of the current fiscal year also rose to surplus.
He said the primary surplus has improved to 2.6 percent of the GDP compared to 0.4 percent during the first quarter of the last year, while tax to GDP has also surged by 0.1 percent compared to last year.
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The advisor said that the inflation rate has also reduced by 8.7 percent from 29 percent.
Talking about the stability in Pakistani rupee value, he said it appreciated by four percent.
He added that forex reserves have also increased significantly, while exports went up by eight percent.
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Khurram Shehzad said the international rating agencies, including Fitch and Moody’s, improved Pakistan’s ratings by one notch.
The stock exchange also recorded bullish trends which is another positive indicator.
The Pakistan stock exchange is hitting record highs for the past few months.
