Minus the nuts and bolts, it appears as if the US and Iran have reached an agreement to end the Mideast war that has proven ruinous for the world’s economy. For now, Pakistan’s slow slide back into macroeconomic decline appears halted, with the new budget offering a glimmer of hope amid renewed geopolitical stability.
That is not to say that the conflict has not wreaked havoc. According to the IMF’s World Economic Outlook for April 2026, global growth is projected to slow to 3.1 per cent in 2026 and 3.2pc in 2027. Finance Minister Muhammad Aurangzeb said last week that the country is heading towards a 4pc growth rate, revised down from an earlier projection to 3.7pc.
So how will peace change the status quo, and what happens if the course is reversed?
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