DAVOS: Pakistan and Saudi Arabia reaffirmed commitment to further deepen and expand mutually beneficial economic relations.
The commitment came during the meeting between Finance Minister Muhammad Aurangzeb with his Saudi counterpart Mohammed Aljadaan held on the sidelines of the World Economic Forum Annual Meeting 2026 in Davos.
During the meeting, Saudi Finance Minister shared his positive impressions regarding Pakistan’s recent economic developments.
Muhammad Aurangzeb warmly thanked Saudi Arabia and its leadership for their continued and steadfast support to Pakistan, underscoring the deep-rooted and time-tested relationship between the two brotherly countries.
Senator Muhammad Aurangzeb briefed his Saudi counterpart on key macroeconomic indicators, noting that Pakistan’s economy was firmly on a stabilization and growth trajectory.
He also highlighted the strong participation of over 120,000 new investors in the capital market, reflecting renewed confidence in Pakistan’s economic prospects.
The finance minister noted that interest rates had begun to trend downward, while reaffirming the independence of the State Bank of Pakistan in determining monetary policy.
He added that economic growth had reached 3.1 percent last year and had further accelerated to 3.7 percent in the first quarter of the current fiscal year.
He further highlighted the significant contribution of remittances to economic stability, noting that inflows were expected to increase from USD 38 billion last year to over USD 41 billion this year.
Muhammad Aurangzeb also highlighted the government’s ongoing efforts to further enhance foreign direct investment, particularly in priority sectors such as minerals and mining, agriculture, and other productive areas with strong export potential and broad-based socioeconomic impact.
