Karachi (HRNW)- State Bank of Pakistan Governor Jamil Ahmed has said that the inflation rate in the country is likely to reach 7 percent. Addressing the Karachi Chamber of Commerce and Industry, the Governor of the State Bank said that economic growth during the first nine months of the current fiscal year was 3.7 percent, while the inflation rate is expected to reach 7 percent in the coming fiscal year.
He said that inflation will start declining in the second half of the next fiscal year, which is a positive sign for the economy. According to Jamil Ahmed, the State Bank’s target is to increase the financing of SMEs (small and medium enterprises) to Rs 1,500 billion by June 2028.
The Governor of the State Bank further said that monetary policies will be continued effectively to stabilize the economy and promote business activities, so that investment and employment opportunities can increase.
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