Moody’s Ratings express confidence in Pakistan’s economic trajectory

Moody's Ratings representatives have expressed confidence in Pakistan's economic trajectory underpinned by robust fiscal reforms and strategic initiatives. They were attending a zoom meeting with Finance Minister Muhammad Aurangzeb today. The Minister commenced the session by giving an update on Pakistan's economic outlook. He highlighted the foreign exchange reserves surpassing nine billion dollars, stable CPI inflation at 12.6 percent, and a robust 7.7 percent increase in foreign remittances, reflecting economic resilience. He emphasized a 30 percent rise in tax collection in current fiscal year and outlined reforms to broaden the tax base, including new agricultural taxes and digital initiatives at the FBR. The Minister updated Moody's representatives on the successful completion of Pakistan's nine-month Stand By Arrangement with the IMF, emphasizing its positive impact on macroeconomic indicators. Source: Radio Pakistan