The Ministry of Finance has released the monthly Economic Update Outlook report, highlighting significant improvements in various sectors of the economy from July to February.
According to the report, remittances increased by 32.5%, reaching 23.96 billion dollars. Exports grew by 7.2%, reaching 21.82 billion dollars, while imports saw an 11.4% increase, totaling 38.32 billion dollars. The current account deficit stood at 691 million dollars.
Foreign direct investment rose by 41%, but portfolio investment showed a negative 211 million dollars. Foreign exchange reserves reached 11.14 billion dollars. Tax collections increased by 25.9%, reaching 7.344 trillion rupees, while non-tax revenue surged by 75.8%, reaching 3.763 trillion rupees.
Despite some challenges in the industrial sector, where large-scale manufacturing growth decreased by 1.22%, inflation showed improvement. Inflation decreased by 1.5% year-on-year and by 0.8% month-on-month in February.
The fiscal deficit decreased by 1.7%, while the primary surplus was 2.8% of GDP. The report concludes that stable fiscal management is yielding positive results, with encouraging economic indicators across various sectors.
