Pakistan, May 16 -- Governor of the State Bank of Pakistan Jameel Ahmad has projected that Pakistan's inflation rate could rise to 7 percent, while expressing optimism about medium-term economic stability and growth.

Addressing the Karachi Chamber of Commerce and Industry, Jameel Ahmad said the country recorded economic growth of 3.7 percent during the first nine months of the current fiscal year.

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He stated that inflation is expected to increase to around 7 percent but may begin easing during the second half of the next fiscal year. According to the central bank governor, inflationary pressures remain influenced by both domestic economic adjustments and external global conditions.

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