Pakistan’s GDP growth is estimated at 3.94% : Prime Minister Imran Khan

Muhammad UsmanMultimedia Journalist

21st May, 2021. 09:27 pm
Pakistan's GDP

Prime Minister Imran Khan on Friday told via the micro-blogging site Twitter that Pakistan’s GDP is estimated at 3.94%.

According to the Prime Minister, the National Accounts Committee has finalized the GDP growth estimate & GDP growth is estimated at 3.94%.

PM Khan said that this reflects the success of our govt’s economic policies while managing COVID 19 pandemic.

In the tweet, Prime Minister said,

“Our V-shaped recovery is balanced between 3 major sectors: agriculture, industry & services.”

Pakistan GDP Growth Rate Projected At 1.5 % For Current Fiscal Year:

Earlier in January, the International Monetary Fund (IMF) had projected the GDP growth rate of Pakistan at 1.5 percent for the current fiscal year 2020-21.

According to the media reports, the projection of the international body was made after comparing the negative growth of 0.4 percent for the fiscal year 2019-2020 that was declined due to the novel coronavirus pandemic.

Although for the year 2019-2020 the GDP growth rate was projected at 1.9%, however, the pandemic hit the economy resulting in a severe crisis as thousands lost their jobs.

Whereas, for the fiscal year 2020-21, the incumbent government of Pakistan Tehreek e Insaf has envisioned a GDP growth rate target of 2.1% with expectations that the recovery of economic activities will help improve the progress trajectory.

IMF in its economic outlook said that Pakistan’s GDP growth forecast is projected at 1.5% for the current fiscal year as the difference from October’s last projection was 0.5 percent.

The IMF had projected GDP growth rate at 1% but has now revised it upward to 1.5% for the current fiscal year.

The IMF had projected that Pakistan’s growth rate will be 4% of GDP in the next fiscal year 2021-22.

The IMF’s World Economic Outlook for 2021 highlights that the global economy is projected to grow at 5.5%. The outlook also showed that the emerging economies stood at 8.3% and Africa at 3.2%.

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