Pakistan’s State Bank has reduced its benchmark interest rate by 100 basis points to 12%, aiming to stabilize inflation and boost growth amidst transformative digital changes. This decision is part of the central bank’s broader strategy to manage inflation and stimulate growth. This move is expected to help boost demand and support economic recovery.
Pakistan’s economy is on track for growth, with the State Bank maintaining its GDP growth forecast at 2.5% to 3.5% for the fiscal year. The country is also witnessing significant digital advancements, including the Digital Economy Enhancement Project (DEEP), which aims to fortify Pakistan’s digital economy and public services. DEEP is closely aligned with the Digital Pakistan Policy and seeks to develop digital public infrastructure to improve accessibility of government services.
