External broker reports(aggregated public sources), Topline Securities

Topline Securities

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External broker reports(aggregated public sources)

Macroeconomics

<ul><li>Ministry of Finance (MoF) has released Economic Survey of Pakistan for FY26 and based on that and in line with numbers reported by National Accounts Committee (NAC), Pakistan has provisionally recorded real GDP growth of 3.7% during FY26 vs. 3.18% in FY25.</li><li>FY26 GDP growth at 4-year high: The GDP growth of 3.7% for FY26 is 4-year high and is also higher than last 5, 10 and 20-year average growth of 3.09%, 3.41% and 3.44%, respectively. While the initial target set by Govt. was 4.2%.</li><li>IMF and World Bank estimates FY26 GDP growth of Pakistan at 3.6% and 3.0%, respectively. We maintain our GDP estimates for FY26 in range of 3.5-4.0% for FY26E.</li></ul>

Ministry of Finance (MoF) has released Economic Survey of Pakistan for FY26 and based on that and in line with numbers reported by National Accounts Committee (NAC), Pakistan has provisionally recorded real GDP growth of 3.7% during FY26 vs. 3.18% in FY25.FY26 GDP growth at 4-year high: The GDP growth of 3.7% for FY26 is 4-year high and is also higher than last 5, 10 and 20-year average growth of 3.09%, 3.41% and 3.44%, respectively. While the initial target set by Govt. was 4.2%.IMF and World Bank estimates FY26 GDP growth of Pakistan at 3.6% and 3.0%, respectively. We maintain our GDP estimates for FY26 in range of 3.5-4.0% for FY26E.

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Pakistan Economic Survey FY26: GDP Growth At 3.7%, Per Capita Income Crossed US$1,900 Mark