ISLAMABAD: The Ministry of Finance has expressed the possibility of further decline in global oil prices affecting domestic oil prices.
The Ministry of Finance has released the Monthly Economic Update and Outlook Report. The report stated that further decline in global oil prices is expected to affect domestic oil prices as well, reducing inflationary pressures and helping to stabilize overall prices.
The report stated that the inflation rate in June is estimated to be 11 to 12 percent, that the foundations of the country’s economy have been strengthened in the fiscal year 2025-26, and that the economic growth rate was recorded at 3.7 percent in the fiscal year 2025-26.
According to the report of the Ministry of Finance, GDP was recorded at the highest level in the last 4 years, and the size of the economy has reached $452.1 billion.
The report stated that measures were taken in the budget for an export-oriented economy, relief was provided to taxpayers, and measures were also taken to strengthen financial discipline.
The report indicated that the country’s economic scenario is likely to improve further in the fiscal year 2027-2026.
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