ISLAMABAD: The federal government will unveil the pre-budget document, Economic Survey of Pakistan 2021-22 on Thursday showing a vigorous GDP growth rate of 5.97 per cent, with a higher Current Account Deficit of over $13.7 billion, and a diverse tendency of performance by the key macroeconomic signs during the year.
The Survey is scheduled to be public with media at a press conference here.
During which a summary of the economic progress made in current years in Pakistan would also delivered, official sources said.
Minister for Finance and Revenue Miftah Ismail will chair the initiation ceremony of the Survey.
The Survey will highpoint the foremost landscapes of the policies commenced by the present government.
Which are attentive on transporting macro-economic stability and putting the economy on growth trajectory.
According to a state-owned news agency, the survey would shelter the development of all the significant sectors of economy.
Containing growth and investment, agriculture, manufacturing, mining, fiscal development, money and credit, capital markets, inflation, debt and liabilities.
Most of the targets set for the outbound fiscal year 2021-22 appeared to attained or even exceeded the preceding years’ targets.
As the macroeconomic indicators have presented good performance during the year.
Conversely, performance of some sectors such as balance of payment.
Foreign direct investment and fiscal deficit continued below average throughout the year.
Conferring to the Planning Commission’s approximations made in the 105th meeting of National Accounts Committee (NAC).
Provisional GDP growth rate for the year 2021-22 is assessed at 5.97%. Broad based growth observed in all the sectors of the economy.
The growth of agricultural, industrial and services sectors is 4.40%, 7.19% and 6.19% correspondingly. Growth of significant crops throughout this year is 7.24%.
The growth in production of significant crops namely Cotton, Rice, Sugarcane and Maize are estimated at 17.9%, 10.7%, 9.4% and 19.0% correspondingly.
The services sector shows a growth of 6.19%. The wholesale and Retail Trade industry raised by 10.04%.
It is helpless on the output of agriculture, manufacturing and imports. Supplementary, the volume of the economy in US$ in 2021-22 stands at $383 billion.
Pakistan Attained Major Economic Targets In Fy2021-22
Temporarily, on Friday, June 10, the government would present its Federal Budget for the fiscal year 2022-23 in the Parliament.
With superior focus on fiscal management, revenue mobilization, measures for economic equilibrium and growth, reduction in non-development expenditures.
Boosting exports moreover providing release to the masses.
Promoting investment for job creation and people friendly policies for the socio-economic wealth of the country.