US-Iran conflict poses risks to Pakistan’s growth, inflation outlook: Aurangzeb
Pakistan’s economic growth and inflation outlook could come under pressure from the ongoing conflict, Finance Minister Muhammad Aurangzeb said on Monday amid escalating geopolitical tensions in the Middle East. “We are on our way from stabilisation to growth,” said the finance minister, adding that the government expects GDP growth of over 4% in the ongoing fiscal year. “It’s obviously a function of the ongoing conflict, which has implications for inflation and GDP, but our leadership is at it, so hopefully sooner than later we will get a more permanent solution to the conflict that we see at this point,” said Aurangzeb. The remarks come amid escalating tensions in the region after US forces struck two Iranian launchers on Iran’s Larak Island on Sunday, a US official said, marking the first known American strikes on Iran since late July. The war has led to the blockade of the Strait of Hormuz, which before the conflict was used to transit about a fifth of the world’s oil supply. Addressing the “Partnerships That Power Progress” event organised by EXIM Bank in Islamabad, the finance minister noted that the current challenge is not growth but achieving sustainability. “That sustainab
Pakistan’s economic growth and inflation outlook could come under pressure from the ongoing conflict, Finance Minister Muhammad Aurangzeb said on Monday amid escalating geopolitical tensions in the Middle East. “We are on our way from stabilisation to growth,” said the finance minister, adding that the government expects GDP growth of over 4% in the ongoing fiscal year. “It’s obviously a function of the ongoing conflict, which has implications for inflation and GDP, but our leadership is at it, so hopefully sooner than later we will get a more permanent solution to the conflict that we see at this point,” said Aurangzeb. The remarks come amid escalating tensions in the region after US forces struck two Iranian launchers on Iran’s Larak Island on Sunday, a US official said, marking the first known American strikes on Iran since late July. The war has led to the blockade of the Strait of Hormuz, which before the conflict was used to transit about a fifth of the world’s oil supply. Addressing the “Partnerships That Power Progress” event organised by EXIM Bank in Islamabad, the finance minister noted that the current challenge is not growth but achieving sustainability. “That sustainab
