External broker reports(aggregated public sources), Topline Securities

Topline Securities

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External broker reports(aggregated public sources)

Macroeconomics

<ul><li>National Accounts Committee (NAC) released GDP estimates for 3QFY26, showing growth of 4.0% YoY taking 9MFY26 average growth to also 4.0%, within State Bank of Pakistan (SBP) range of 3.75% to 4.75%.</li><li>The 9MFY26 growth trend is falling in upper range of our annual estimates of 3.5-4.0% for FY26. We maintain our GDP growth forecast in same range as we believe likely reduction in economic activity amidst higher oil prices and administrative measures by Govt i.e. early closure of markets will weigh on 4Q growth numbers, in our view.</li><li>Our view is also aligned by the provisional GDP growth of 3.7% quoted by PBS for FY26 in its press release is 3.7%.</li></ul>

National Accounts Committee (NAC) released GDP estimates for 3QFY26, showing growth of 4.0% YoY taking 9MFY26 average growth to also 4.0%, within State Bank of Pakistan (SBP) range of 3.75% to 4.75%.The 9MFY26 growth trend is falling in upper range of our annual estimates of 3.5-4.0% for FY26. We maintain our GDP growth forecast in same range as we believe likely reduction in economic activity amidst higher oil prices and administrative measures by Govt i.e. early closure of markets will weigh on 4Q growth numbers, in our view.Our view is also aligned by the provisional GDP growth of 3.7% quoted by PBS for FY26 in its press release is 3.7%.

파키스탄 경제 - 파키스탄 GDP, 2026 회계연도 3분기 4.0% 성장; 2026 회계연도 잠정 성장률 3.7% 전망