SBP: Annual analysis report of fiscal year 2009-10 published
Business
SBP: Annual analysis report of fiscal year 2009-10 published
State Bank of Pakistan (SBP) has published the annual analysis report of fiscal year 2009-10. According to the bank the GDP (Gross Domestic Product) growth rate is expected to remain 2-3 percent during the current fiscal year. The report published by the central bank also reveals that fiscal deficit rose to 6.3 percent exceeding the last year statistics by 1.1 percent. The report also explains that the recent deluge has caused a huge damage to the economic targets. This natural catastrophe affected the arable land and Khareef crop as well. Not only this but the massive floods also affected the infrastructure and the industrial units. Despite initial progress the issue of circular loans of the energy sector could not be resolved. On the other hand current account deficit declined while the foreign exchange reserves increased tremendously.
.jpg)
