State Bank of Pakistan Governor Jameel Ahmad assessed the current monetary policy stance as appropriate to keep inflation within the 5% to 7% medium-term target while supporting economic activity. Average inflation was 7.1% in FY26, while economic growth reached 3.7% and is projected at 3.5% to 4.5% in FY27. Ahmad said continued policy reforms are needed to turn recent economic stabilization into sustainable growth. The governor also projected remittances to rise from more than USD 41 billion in FY26 to USD 44 billion in FY27, with foreign exchange reserves expected to exceed USD 21 billion after reaching USD 18.4 billion at end-FY26. Reviewing financial system developments, he highlighted the rollout of the PRISM+ payment infrastructure, an increase in annual retail digital transactions from about 10 billion to 12 billion, and the launch of InvestPak. The central bank will continue to focus on price stability and reforms supporting productivity, exports and employment.
State Bank of Pakistan2026-08-14
State Bank of Pakistan governor backs current monetary stance, projects 3.5% to 4.5% FY27 growth
State Bank of Pakistan Governor Jameel Ahmad said the current monetary policy stance remains appropriate for the 5% to 7% medium-term inflation target. The central bank projects FY27 growth of 3.5% to 4.5%, remittances of USD 44 billion and foreign exchange reserves exceeding USD 21 billion, while emphasizing the need for continued reforms.