SBP expects growth of 3.94pc in FY21
Fiscal support was targeted to the most vulnerable: SBP
KARACHI (Dunya News) – State Bank of Pakistan (SBP) on Monday said that it expects growth of 3.94% in current fiscal year as post-Covid recovery underway since last summer has strengthened and the 9-mth current account is also in surplus for the first time in 17 years and foreign exchange reserves at a four year high.
State Bank, in a series of tweets, said that given high public debt, fiscal support was targeted to the most vulnerable, notably through the globally-acclaimed Ehsaas program.
“At the same time public debt and deficit were kept under check which has supported market sentiment, investment outlook, and economic recovery.”
The bank further said that it provided a targeted economic stimulus of Rs2 trillion to support the recovery through interest rate cut, principal deferment and loan restructuring, Rozgar payroll finance scheme to prevent layoffs and concessional finance for investment in industry and health facilities.
