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GDP growth for FY23 set at 5%

ISLAMABAD: Minister for Planning, Development, and Special Initiatives Ahsan Iqbal has said the size of the federal development budget under the Public Sector Development Programme (PSDP) has been set at Rs 800 billion for the upcoming fiscal year 2022-23. He

Pakistani cities contribute to 55% GDP as compared to world average of 80%: FPCCI

KARACHI: President FPCCI Mian Nasser Hyatt Maggo has said that lack of investment in infrastructure is making Pakistani cities lag behind in economic and commercial growth. Globally, the share of cities in any country’s Gross Domestic Product (GDP) is 80

Pakistan rejects WB’s projection about GDP

ISLAMABAD: The finance ministry has rejected the World Bank’s projection about Pakistan’s Gross Domestic Product (GDP) growth rate for current and upcoming fiscal year saying it was based on unrealistic assessment and that the GDP growth rate for fiscal year

IMF revises Pakistan’s real GDP growth of 3.9%

WASHINGTON: The International Monetary Fund (IMF) has revised Pakistan’s real Gross Domestic Product (GDP) growth rate of 3.9%. In its updated World Economic Outlook report 2021, the IMF also acknowledged Pakistan’s robust economic performance and said that “Projections are revised

Will India’s GDP decline be Modi’s downfall?

The Indian economy received a battering due to the coronavirus pandemic as it released the latest estimates of economic growth for the last financial year ending March 2021. The provisional figures released by National Statistical Office, India’s Gross Domestic Product

Higher economic growth

The government had set an ambitious GDP growth rate of 3.94% for the fiscal year which surprised everyone and raised accusations by the opposition that the figures were fudged. Now the government is setting even higher standards for economic growth,

GDP growth rate estimated at 3.94% in FY2020-21

ISLAMABAD: The National Accounts Committee (NAC) has estimated that the provisional growth rate of Gross Domestic Product (GDP) during the current fiscal year (2020-2021) was 3.94 percent. “Due to a combination of GDP growth and strengthening of Pak rupee against

Moody’s forecast 1.5% GDP growth, 4.4% in next fiscal year

ISLAMABAD: Moody’s Investor Service has forecast that Pakistan’s economy will grow at a modest rate of 1.5 percent during the current fiscal year which will accelerate to 4.4% in the next fiscal year. “Economic activity will remain below pre-outbreak levels,

Subsidies, grants 4.5% of GDP: Cabinet informed

KARACHI: The federal cabinet was informed that the total volume of subsidies and grants forms 4.5 percent of the gross domestic product (GDP). In a weekly meeting chaired by the prime minister, Special Assistant to PM on Revenue Dr Waqar

Pakistan’s fiscal deficit to reach 9.5% of GDP in FY21: Fitch

NEW YORK: Global ratings agency Fitch has said Pakistan’s fiscal targets presented in the FY2020-21 budget will be challenging to meet amid the economic and health crisis associated with the coronavirus pandemic. Fitch had affirmed Pakistan’s rating at ‘B-’ with

Pakistan to target 2.3% growth in upcoming budget

ISLAMABAD: The government will target growth of 2.3% in fiscal year 2020-21 as it presents the budget for the upcoming fiscal year on Friday. The budget is being passed amid a changing economic landscape that would depend mainly on the

China drops annual GDP growth target for the first time

BEIJING: China dropped its annual growth target for the first time on Friday and pledged more government spending as the COVID-19 pandemic hammers the world’s second-biggest economy. The omission from Premier Li Keqiang’s work report during this year’s meeting of