GDP target for next financial year 2020-21 set at 2.3%

ISLAMABAD (Dunya News) – Finance Advisor Abdul Hafeez Sheikh, while addressing a press conference in Islamabad, presented Pakistan Economic Survey of 2019-20 outlining the state of the country’s economy in the passing fiscal year.

According to Documents obtained by Dunya News, the GDP target for the next financial year( 2020-21) has been proposed to be 2.3% while the current year’s GDP growth was negative 0.4% against the target of 3%.

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 Moreover, the proposed targets of various sectors have been set at:

  • Agriculture 2.9%
  • Industries 0.1%
  • Services Sector 2.8%
  • Trade Deficit 7.1%
  • Current Account Deficit 1.6%

According to the document, inflation is projected to fall from 11% to 6.5% during the next financial year, and there are proposals to reduce government’s non-developmental expenditures. The document also proposes to further target subsidies in the next financial year.