![Pakistan's Ministry of Finance aims to reduce inflation rate to 7% by 2027, from 23.4%, with growth and debt reduction plans. [Image via ARY News]](https://pkafgyouthforum.com/wp-content/uploads/2024/12/inflation-control.webp)
ISLAMABAD: Pakistan’s Ministry of Finance has unveiled ambitious plans. They aim to bring down the country’s inflation rate to 7% by 2027. ARY News reported this.
According to the ministry’s report, they expect the inflation rate to decrease over the next three years.
The report projects that the inflation rate will decrease from 23.4% to 12% in 2025, and then further to 7.5% in 2026. By 2027, they expect to reduce the inflation rate to 7%.
In addition to reducing inflation, the ministry also projects that the country’s economic growth rate will increase from 3.6% to 5.5% over the next three years. They expect the primary balance to improve from 1.02% to 0.5% of the economy.
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The report also outlines plans to reduce the debt-to-GDP ratio, expecting it to decrease from 68.6% in 2025 to 67.8% in 2026, and then to 66.6% in 2027.
On December 2, the core inflation measured by Consumer Price Index (CPI) decelerated further to 4.9 percent during November 2024 as compared to 7.2 percent recorded during October 2024.
According to PBS data, they recorded the CPI-based inflation at 29.2% during the same month of last year (November 2023).
On month-on-month basis, it increased by 0.5% in November 2024 as compared to an increase of 1.2% in the previous month and an increase of 2.7% in November 2023.
“Pakistan inflation, as measured by CPI, has made another multi-year low,” commented Khurram Schehzad. He is the Advisor to the Finance Minister on Economic and Financial reforms. He made this comment on X.
This news is sourced from [ARY News] and is for informational purposes only.
