Aurangzeb says Pakistan’s fiscal deficit falls to 22-year low

The Express Tribune reported that Finance Minister Muhammad Aurangzeb told an IMF meeting on Wednesday that the fiscal deficit has fallen to its lowest level in 22 years. He pointed to three back-to-back years of primary surpluses and 3.7 per cent economic expansion as supporting evidence. Foreign exchange reserves, now at a record high, cover three months of imports, and sovereign rating upgrades were also cited as progress.

During the World Bank Group-IMF Annual Meetings in Bangkok, Aurangzeb met several lenders, rating agencies and investors, while talks with US officials covered energy imports and Reko Diq. At Standard Chartered Bank's Sovereign Investor Roundtable, he outlined financing through Sukuk, Panda bonds and a planned bond denominated in rupees but settled in dollars. In a separate discussion, S&P Global Ratings heard about the government's ambition to move into the double-B rating category.

At the Citi Macro Forum, the minister said he was optimistic that growth could reach or exceed 4% in the current fiscal year, according to a ministry post on X. Addressing the Middle East conflict, he outlined steps to keep energy supplies steady and give targeted relief to vulnerable groups within existing budget allocations.