Sharif reaffirmed the government’s commitment to ongoing economic reforms, particularly underscoring the swift implementation of the right-sizing policy, which he personally oversees
By Asghar Ali Mubarak
ISLAMABAD: Prime Minister Shehbaz Sharif has expressed satisfaction with recent economic advancements, particularly emphasizing the notable reduction in inflation rates and an upgrade in Pakistan’s credit rating by Moody’s. In a statement issued by the Prime Minister’s Office on Sunday, Sharif welcomed the latest data from the Pakistan Bureau of Statistics, which indicates a significant decline in inflation.
The Consumer Price Index (CPI) fell to 11 percent in July 2024, marking a substantial decrease from previous levels. Sharif viewed this drop as a positive sign of the effectiveness of the government’s economic policies, with experts predicting a continued reduction in inflation rates by September. “The CPI decrease is a clear indicator of our successful economic strategies. The anticipated further decline in inflation is highly promising,” Sharif noted. In addition to the inflation reduction, Sharif highlighted the recent upgrade of Pakistan’s credit rating by Moody’s, following a similar upgrade by Fitch.
This improvement in the country’s credit rating reflects enhanced economic indicators and greater financial stability. “The upgrade from Moody’s is a testament to our economic reforms and the dedicated efforts of our financial team,” Sharif commented. Sharif reaffirmed the government’s commitment to ongoing economic reforms, particularly underscoring the swift implementation of the right-sizing policy, which he personally oversees. He assured that the benefits of these reforms will soon become apparent in the national economy.
Prime Minister Shehbaz Sharif has expressed a positive outlook on Pakistan’s economic trajectory, underscoring recent progress in inflation reduction and the country’s upgraded credit rating by Moody’s. In a statement issued by the Prime Minister’s Office, Sharif commended the decline in inflation rates and anticipated further improvements. The Consumer Price Index (CPI) saw a notable decrease in July 2024, with inflation rates falling to 11 percent.
This decline is viewed as a significant achievement, with forecasts suggesting continued reduction by September. “The drop in CPI reflects our successful economic strategies, and the anticipated further decline is a promising sign,” Sharif remarked. Sharif also drew attention to Moody’s upgrade of Pakistan’s credit rating, following a similar upgrade by Fitch. He attributed this positive development to the government’s economic reforms and effective financial management. “The rating upgrade from Moody’s is a clear indication of our progress and the diligent efforts of our economic team,” he stated.
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