Tariq Bajwa: Pakistan's need to tackle low savings, low revenue and the high trade gap for economic development

Keynote address by Mr Tariq Bajwa, Governor of the State Bank of Pakistan, at the Bloomberg Pakistan Economic Forum, Karachi, 18 March 2019.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Ladies and Gentlemen,

Assalam-o-Alaikum and Good morning!

First of all, I would like to thank the organizers for inviting me to this forum. I'm pleased to have the opportunity to address you today.

As you are all aware, Pakistan's economy is going through a phase of transition. On the one hand, stabilization policies are in place to ensure a stable macroeconomic environment which is vital for economic development; and on the other, the government is pursuing wide-ranging reforms to improve the ease of doing business in the country and minimize the cost of stabilization measures

After experiencing a spell of rising GDP growth between FY14 and FY17, Pakistan's economy is set for a calibrated moderation.