Written by Hamza Shahnawaz in Money & Banking State Bank Governor Jameel Ahmad highlights Pakistan’s macroeconomic recovery, declining inflationary pressures and the importance of fiscal discipline and long-term policymaking. KARACHI: State Bank of Pakistan (SBP) Governor Jameel Ahmad has stressed that decisive, evidence-based policies and fiscal discipline are essential for sustaining Pakistan’s economic stability and ensuring long-term growth. Addressing the annual convocation of the Institute of Cost and Management Accountants of Pakistan (ICMA Pakistan), the governor said the country had made significant progress in strengthening its economic fundamentals since 2022, despite severe global and regional shocks. Ahmad said inflation remained close to the central bank’s target range in fiscal year 2026 (FY26). Although inflation has increased since then, it is projected to gradually ease towards the target range, supported by prudent monetary policy. He added that Pakistan’s external account remained stable, with the current account deficit expected to stay between zero and one per cent of gross domestic product (GDP). Real GDP growth recovered from a contraction in FY23 to 3.7 per cent in FY26, with further improvement expected in the current fiscal year, he said. These developments have also attracted recognition from international credit rating agencies, multilateral partners and foreign investors. Reflecting on policy adjustments during FY22 and FY23, the SBP governor said timely action,…