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The Ministry of Finance has expressed concerns about a potential rise in inflation ahead of Eid al-Fitr. According to the latest report of the Finance Ministry, inflation in March is projected to range between 3 to 4 percent, while in February, it is expected to remain between 2 to 3 percent. In January 2025, the recorded inflation rate stood at 2.41 percent.
The report further highlights that from July to January, the average inflation rate was 6.50 percent. During the first seven months of the fiscal year, the export industry experienced growth, and inflation saw a significant decline. The report anticipates that in March, inflation is likely to stay within the range of 3 to 4 percent, whereas in the current month, it is expected to be limited to 2 to 3 percent.
Additionally, the report notes a continuous rise in wholesale sugar prices across the country ahead of Ramadan. It also emphasizes that a reduction in policy rates, along with a significant increase in remittances, has contributed to financial stability. From July to January, remittances surged by 31.7 percent, reaching $20.84 billion, with further increases expected during Ramadan, Eid al-Fitr, and Eid al-Adha.
Moreover, the report indicates that direct foreign investment has increased, and expenditure management has improved. During the past seven months, exports grew by 7.6 percent, with the total export volume reaching $19.17 billion from July to January. Meanwhile, imports saw a 10.9 percent increase, amounting to $33.31 billion.
