Inflation falls to 9-year low as SBP reserves cross $14bn

(Web Desk): State Bank of Pakistan (SBP) Governor Jameel Ahmad has stated that due to strict monetary and fiscal policies, the ongoing economic downturn in the country has been brought under control, and at the start of fiscal year 2025, the inflation rate has dropped to its lowest level in the past nine years.

In a statement issued by the State Bank, the Governor said that improved performance in external accounts has led to stability in the foreign exchange market. According to Jameel Ahmad, improvements in remittances and exports have resulted in a current account surplus, which is a positive indicator for the economy.

He further mentioned that the State Bank’s foreign exchange reserves have surpassed $14 billion, marking a significant step toward economic stability.

Economists say that strict financial discipline and policy measures have steered economic indicators in a positive direction. However, they emphasize that sustainable reforms are essential for long-term improvement.