Pakistan economy

Pakistan’s economy will grow at 5pc in first half of 2022, says govt

On New Year’s Eve, the Ministry of Finance estimated that the economy will grow at five per cent in the first half of 2022 with substantial improvement on the external side.

The ministry came out with robust projections for almost all major economic indicators at the close of calendar year 2021. In the first half of FY22, the GDP growth remained at 4pc, tax collection exceeded targets, reserves improved and the current account was reported lowest since 2011.

As per the projected outlook for the second half of FY22, the financial ministry estimates economic growth to stay at 5pc, annual exports at $31bn and remittances at $32bn. It projected that collections of Federal Board of Revenue (FBR) will reach Rs6 trillion and trade deficit to reduce in the second half of FY22.

The finance ministry further said that recent pressures on the current account are due to commodity shock but risks are receding due to timely policy actions.

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