1QFY27: forex reserves surge 52pc YoY
ISLAMABAD: The Ministry of Finance (MoF) has presented a snapshot of macroeconomic indicators for the first quarter of fiscal year 2026-27, highlighting record foreign exchange reserves, rising exports and investment inflows, but the scorecard lacks key indicators such as imports, inflation, per capita income and poverty to provide a complete picture of the economy. According to the ministry’s…
The Ministry of Finance released a scorecard for Pakistan's macroeconomic indicators in the first quarter of fiscal year 2026-27. Key highlights include a 52 percent surge in foreign exchange reserves to a record USD 21.5 billion, driven by a 20 percent increase in foreign direct investment to USD 720 million. Total exports rose 11 percent to USD 11.2 billion, with IT exports soaring 18 percent to USD 1.25 billion.
Workers' remittances grew 14 percent to USD 10.9 billion. The rupee appreciated 1.5 percent year-on-year. However, the current account deficit remained at USD 874 million. The country also reached staff-level agreements with the IMF for two reviews under the EFF and RSF, potentially unlocking USD 1.2 billion. Government debt dropped to Rs86 trillion, down Rs714 billion from the previous year, with domestic debt at Rs58.8 trillion and external debt stable at USD 98.2 billion.
Fiscal revenues increased to Rs3.1 trillion, surpassing targets, while digital payments expanded to 92 percent of retail transactions. Overall, Pakistan's credit ratings improved, with Moody's, S&P, and Fitch maintaining stable B ratings.
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