Islamabad: The government has released key indicators of the economic performance of the current fiscal year, saying that Pakistan’s overall economic growth rate has been 3.7%, while the economic survey will be presented by Federal Finance Minister Senator Muhammad Aurangzeb on June 9.
According to official data, the country’s industrial sector has recorded a growth rate of 3.5%, the agricultural sector 2.9%, while the services sector has recorded a growth rate of 4.1%. These figures indicate an uneven but overall positive pace in different sectors of the economy.
According to economists, the relatively good performance of the services sector has been playing an important role in supporting the overall growth rate, while limited improvement in the industrial and agricultural sectors is keeping the economic recovery process at a cautious pace.
According to the report, the inflation rate has been recorded at 6.2% during the current fiscal year from July to April. According to experts, this reduction in inflation is considered a major change compared to previous years, which has reduced price pressures at the public level.
According to the Economic Survey, these figures are fundamental for the formation of the upcoming fiscal planning and budget, as the direction of fiscal, agricultural and industrial policies is determined on their basis.
According to the Ministry of Finance, the Economic Survey will present a complete economic picture of the current fiscal year, which will include key economic indicators, including exports, imports, fiscal deficit, foreign exchange reserves and investment trends.
Economic analysts say that the 3.7 percent growth rate is a sign of cautious but steady economic improvement; however, structural reforms and improvement in the performance of productive sectors are indispensable for sustainable growth.
The Economic Survey, to be released on June 9, will play a key role in determining the direction of the upcoming federal budget, on which the eyes of the business and financial community across the country are focused.
