Shehbaz's regime: Per capita income contracts by 11.38pc
Business
The size of economy in dollar terms shrinks to $341.6bn in FY23
ISLAMABAD (Web Desk) - The outgoing financial year under the regime of Prime Minister Shehbaz Sharif has not proved to be a year of respite for masses as the per capita income in dollar terms contracted by 11.38 per cent and all major sectoral targets were missed.
The country's per capita income in dollar terms has dropped to $1,568 in the outgoing fiscal year 2022-23 as against $1,766 in the last financial year.
The size of national economy -- shared by the Pakistan Bureau of Statistics (PBS) -- also shrunk in dollar terms as it decreased to $341.6 billion in the outgoing fiscal year FY23 as against $375bn for the last financial year F22.
Unprecedented exchange rate depreciation and drop in the real gross domestic product (GDP) growth rate resulted in a decrease in the size of the economy in dollar terms by $33.4bn just in one year.
The size of the economy in rupee terms stood at Rs38.927 trillion for the outgoing fiscal year 2022-23 as compared to Rs38.814tr in the last financial year FY22.
