S&P’s projections for Pakistan ‘broadly align’ with SBP’s outlook, says Khurram Schehzad

Khurram Schehzad, Adviser to the Finance Minister, on Tuesday said that S&P Global Market Intelligence (S&P )’s latest macroeconomic forecasts for Pakistan broadly align with projections from the State Bank of Pakistan (SBP). In a statement, Schehzad shared that S&P projects inflation at 5.1% in 2026, rising slightly to 5.6% in 2027, indicating a “slight increase”. The SBP, meanwhile, has forecast a range of 5%–7% over the next two years. “S&P’s point forecasts, i.e. 5.1–5.6%, sit within SBP’s 5–7% band, and imply stable-to-slightly higher inflation from 2026 to 2027,” said Schehzad. On the external front, S&P anticipates Pakistan’s current account deficit at 0.5% of GDP in 2026, expected to increase to 1.3% in 2027.