Pakistan reaffirms commitment to macroeconomic stability as Ipsos survey shows rising consumer trust
KARACHI: Pakistan on Sunday reaffirmed its commitment to macroeconomic stability after Ipsos, a Paris-based global market research and consultation firm, said consumer confidence grew in the South Asian country in the second quarter of this year.
The Ipsos survey revealed a significant surge in consumer confidence, with 42% of Pakistanis now believing the country is heading in the right direction — the highest level recorded in six years.
Perceptions of the economy being strong reached their most favorable levels since August 2019, and optimism overtook pessimism that marked a key psychological shift among the population, according to the survey.
Pakistan's Finance Minister Muhammad Aurangzeb said the 'encouraging' data reflected the success of his government's disciplined and targeted macroeconomic strategy implemented over the last 14 months.
'He highlighted that consumer confidence in making major purchases and investments has doubled compared to the same period last year, indicating that households are beginning to feel more secure in their financial prospects. Similarly, confidence in job security is now at its highest since 2019, a sign that
labor market conditions are gradually stabilizing in response to pro-growth policies and reforms,' the finance ministry said.
'Senator Aurangzeb reaffirmed that the government remains committed to maintaining macroeconomic stability, accelerating structural reforms, and ensuring that economic growth translates into real and inclusive progress for all citizens.'
The development comes amid stabilization of key economic indicators, including inflation, exchange rate, foreign exchange reserves and fiscal discipline, that has led a renewed public trust in Pakistan, which is currently on path to economic recovery under a $7 billion International Monetary Fund (IMF) program secured in Sept. last year.
Aurangzeb pointed out that this upswing in consumer confidence spans across urban and rural areas, and is particularly evident among youth and women, demonstrating the broad-based nature of the economic turnaround.
He linked this optimism to sustained government efforts to create an enabling environment to enhance private sector growth, exports, social protection and financial inclusion.
'The findings of the IPSOS survey are a timely validation of Pakistan's economic direction and a clear signal that the country is on a steady path toward recovery and resilience,' the minister said.
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