US-Iran conflict poses risks to Pakistan’s growth, inflation outlook, says finmin
Pakistan’s economic growth and inflation outlook could come under pressure from the ongoing conflict, Finance Minister Muhammad Aurangzeb said on Monday amid escalating geopolitical tensions in the Middle East. “We are on our way from stabilisation to growth,” said the finance minister, adding that the government expects GDP growth of over 4% in the ongoing […]
Pakistan's economic growth and inflation outlook may be affected by the ongoing US-Iran conflict, according to Finance Minister Muhammad Aurangzeb. The minister stated that the country is transitioning from stabilization to growth, with an expected GDP growth of over 4% in the current year.
The conflict has led to an increase in oil prices, with West Texas Intermediate trading above $86 and Brent near $90. The Strait of Hormuz, a key passage for energy flows, has been impacted by the hostilities, with US forces hitting an island in Hormuz and Iran retaliating with attacks on the United Arab Emirates and Jordan.
The US and Iran have exchanged fire, with Iran targeting American air bases in Jordan, which were reportedly intercepted and destroyed. According to Daily Times, the finance minister expressed concerns about the impact of the conflict on Pakistan's economy.
Brief written by urgent.news from Daily Times, Hindu BusinessLine — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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- Oil prices jump over 2% after US-Iran direct conflict re-ignites after a month of pause timesofindia.indiatimes.com
- US-Iran conflict poses risks to Pakistan’s growth, inflation outlook: Aurangzeb brecorder.com
