The Pakistan Economic Survey 2024-25, unveiled on June 9, 2025, by Finance Minister Muhammad Aurangzeb, presents a comprehensive snapshot of the country’s economic performance during the fiscal year (July 2024–June 2025). Despite signs of stabilization, the report reveals that Pakistan’s economy grew by just 2.7%, missing the earlier target of 3.6%. This marks a slight uptick from 2.5% in FY2024, with a more ambitious 4.2% growth now projected for FY2025-26.
One of the most significant developments noted in the Pakistan economic survey is the sharp decline in inflation, falling to 4.7% (July–April average) from 23.4% a year prior. April 2025 alone recorded a historic low of 0.3%. Fiscal indicators also improved, with the fiscal deficit narrowing to 2.6% of GDP and a primary surplus of Rs 3,468.7 billion (3.0% of GDP) achieved in the first nine months.
The economic survey of Pakistan 2025 highlights strong revenue performance. Tax revenues surged by 26.3%, reaching Rs 9,300.2 billion, while non-tax revenues grew by 68%, primarily due to higher SBP profits and petroleum levies. Public debt reached Rs 76,007 billion, with domestic debt at Rs 51,518 billion and external at Rs 24,489 billion ($87 billion). However, the debt-to-GDP ratio improved to 73.6%, reflecting some progress in debt management.
Foreign exchange reserves rose to $16.64 billion, boosted by increased remittances—up 30.9% year-on-year—which helped the current account register a $1.9 billion surplus, a sharp reversal from last year’s $1.3 billion deficit. Per capita income rose to $1,824, indicating modest economic improvement.
Sectoral performance showed a mixed picture. Agriculture grew by only 0.56%, largely due to a 13.5% decline in major crops. The industrial sector posted a 4.77% gain, while services expanded 2.91%. The KSE-100 index saw a strong rally, rising 40% to 117,920 points, and market capitalization jumped to Rs 14.5 trillion.
Monetary easing also played a role, with the policy rate slashed to 11%, encouraging private sector credit of Rs 681 billion. Meanwhile, petroleum consumption rose 7.04%, reflecting increased transport and export activity.
The Pakistan economic survey 2024-25 precedes the federal budget presentation scheduled for June 10, 2025, with debates and voting to follow later in the month. The report strikes an optimistic tone, emphasizing macroeconomic stabilization, AI-led reforms, and disciplined development spending worth Rs 3,483 billion. However, analysts caution that growth remains fragile due to continued pressure on agriculture, manufacturing, and public welfare.
Despite official optimism, critics argue that the improvements mask deep-rooted challenges such as unemployment, high living costs, and ongoing dependence on IMF support, including a $7 billion program with $2.1 billion disbursed. The economic impact of continued trade restrictions with India, particularly on Himalayan salt, also remains a concern.
The economic survey of Pakistan 2025 reflects a cautiously improving economy but underscores the need for sustained reforms and inclusive growth to avoid past boom-and-bust cycles.
. Despite signs of stabilization, the report reveals that Pakistan’s economy grew by just 2.7%, missing the earlier target of 3.6%. This marks a slight uptick from 2.5% in FY2024, with a more ambitious 4.2% growth now projected for FY2025-26.){kind=link}