Islamabad, December 17, 2024 – Prime Minister Muhammad Shehbaz Sharif on Tuesday expressed his satisfaction over Pakistan achieving a record current account surplus in November 2024.
“For the first time in 10 years, Pakistan’s current account surplus reaching US$729 million in November 2024 is extremely encouraging for the national economy,” the prime minister stated in a press release issued by the PM House.
Shehbaz emphasized that this milestone reflects the effectiveness of the government’s economic policies. He pointed to key economic indicators, such as the reduction in the policy rate by the State Bank of Pakistan (SBP) and a gradual decline in the inflation rate, as major contributors to this achievement.
“Pakistan’s position in the international economic market will strengthen with this record increase in the current account surplus,” the prime minister remarked. He highlighted that the surplus would bolster the confidence of both local and foreign investors in Pakistan’s economic prospects.
The prime minister expressed hope that the positive momentum would continue, aiding in the country’s journey towards sustainable economic stability and growth. He reiterated his government’s commitment to maintaining fiscal discipline and implementing policies aimed at improving macroeconomic indicators.
PM Shehbaz also extended his heartfelt appreciation to Finance Minister Muhammad Aurangzeb, Minister of State for Finance Ali Pervaiz Malik, and the government’s entire economic team for their relentless efforts in achieving this economic milestone. He acknowledged their hard work and dedication in navigating Pakistan’s economy through challenging times and steering it towards recovery.
The current account surplus is expected to have a ripple effect across the economy, from enhancing foreign exchange reserves to boosting investor confidence. Economic analysts have also lauded the government’s policies, attributing the surplus to improved exports, controlled imports, and prudent fiscal management.
As the government continues to pursue reforms, the prime minister called for collective efforts to sustain this upward trend and further stabilize Pakistan’s economy.