Pakistan’s GDP growth is estimated at 3.94% : Prime Minister Imran Khan
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.”
National Accounts Committee has finalized GDP growth estimate & GDP growth is estimated at 3.94%.This reflects the success of our govt’s economic policies while managing COVID 19 pandemic. Our V-shaped recovery is balanced between 3 major sectors: agriculture, industry & services
— Imran Khan (@ImranKhanPTI) May 21, 2021
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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