The State Bank of Pakistan (SBP) Governor Jameel Ahmad has projected a more optimistic economic recovery for Pakistan than the International Monetary Fund (IMF) forecast, expecting the economy to grow by as much as 4.75% in the current fiscal year. According to Dawn, the SBP has raised its growth forecast to a range of 3.75–4.75%, despite challenges such as a contraction in exports and a widening trade deficit in the first half of the year. Ahmad attributes this optimism to a broad-based recovery across all sectors, with agriculture showing resilience despite last year's floods and financial conditions easing significantly after a cumulative 1,150-basis-point cut in the policy rate since June 2024. The SBP's decision to maintain the benchmark rate at 10.5% underscores its focus on supporting growth while ensuring economic stability. Ahmad also highlighted that "high-frequency indicators and 6% growth in large-scale manufacturing in July-November point to strengthening demand," and that strong remittances are expected to offset the trade gap, keeping the current account deficit within 1% of GDP.