On Thursday, the federal government will release the Economic Survey of Pakistan 2021-22, a pre-budget study.
Miftah Ismail, Minister of Finance and Revenue, will preside over the event.
The Economic Survey is likely to show a strong 5.97 percent GDP growth rate, albeit with a larger current account deficit of nearly $13.7 billion and a mixed trend in key macroeconomic indicators during the previous fiscal year.
Official sources said the survey will be presented to the media at a press conference, which would also include a review of Pakistan’s economic progress in recent years.
The survey will emphasize the key elements of the current government’s policies, which are aimed at restoring macroeconomic stability and placing the economy on a growth path.
The Economic Survey examines the growth and development of all major economic sectors, including agriculture, manufacturing, mining, fiscal development, money and credit, capital markets, inflation, debt, and liabilities.
The provisional GDP growth rate for the year 2021-22 was assessed at 5.97 percent by the Planning Commission at the 105th meeting of the National Accounts Committee (NAC), with broad-based growth in all sectors of the economy.
Agriculture, industry, and services will rise at rates of 4.4 percent, 7.19 percent, and 6.19 percent, respectively. Important crops are growing at a rate of 7.24 percent. Cotton, rice, sugarcane, and maize production are expected to increase by 17.9 percent, 10.7 percent, 9.4 percent, and 19.0 percent, respectively.
6.19 percent rise was also seen in the services sector. The wholesale and retail trade sector expanded by 10.04 percent. Agriculture, manufacturing, and imports all contribute to its output. Furthermore, in terms of US dollars, the economy’s volume in 2021-22 was $383 billion.
Most of the targets set for the current fiscal year 2021-22 appeared to have been met or even exceeded, since macroeconomic indicators showed solid performance throughout the year.