There is good news about the country’s economy

State Bank has released the annual report on the economy for the financial year 2023-24.

According to the report, inflation declined from a peak of 38 percent in May 2023, to a low of 12.6 percent in June 2024.

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Pakistan’s economic conditions have improved, recovery in wheat, rice and cotton production has played a major role, the current account deficit has narrowed to a 13-month low.

A significant increase in remittances and exports was recorded, State Bank maintained the policy rate at 22%, reforms were also introduced in foreign exchange companies.

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The report issued by the State Bank further states that there are several obstacles in the way of maintaining economic stability.

In order to increase investment, there is a need to create a favorable business environment, promote research and development and increase productivity.