Govt sets growth target for next fiscal year at 4pc
The government has envisaged target of important agriculture crops at 3.5 percent
ISLAMABAD (Dunya News) – The government has set the economic growth target for its second year in power at a modest 4 percent and projected average inflation of 8.5 percent.
According to a document released by the government, the per capita income in dollar terms is also expected to remain lower in next fiscal year 2019-20 at around $1,500 due to further currency depreciation compared to the outgoing fiscal year.
The government has envisaged target of important agriculture crops at 3.5 percent for upcoming fiscal year against provisional estimates of negative 6.5 percent for the outgoing fiscal year. The important crop target was initially envisaged at 3 percent for the current fiscal year.
With industrial sector growth of 2.3 percent for next fiscal year against 1.4 percent for outgoing fiscal year, the Large Scale Manufacturing (LSM) is envisaged to grow at 1.5 percent in 2019-20 against negative 2 percent in outgoing financial year.
The services sector is projected to grow at 4.8 percent in next fiscal against 4.7 percent in outgoing fiscal year. The services sector was initially envisaged to grow at 6.5 percent for the current fiscal year.
