Email: [email protected], categoryTermID5----CategoryParentID0------, by Staff Report , (Last Updated June 10, 2019), Speeding car crashes into gates of Makkah’s Grand Mosque, Qadir Baloch, Sanaullah Zehri to part ways with Sharifs, Indonesia condemns France attacks, but warns against Macron’s remarks, As anger rises, Muslims protest blasphemous caricatures, Free speech has limits, Canada’s Trudeau says, Protest over French blasphemous caricatures turns violent, Mahathir says remarks on French attacks taken out of context, Govt urged to proceed against Ayaz Sadiq under high treason, says Ijaz Shah, Officials served show-cause notice over failing to produce Hamza in court, Court approves plea bargain of housing fraud accused, CTD, police personnel ‘involved with smugglers’ arrested, Security forces foil major terrorist activity in Balochistan: ISPR, Covid positivity rate jumps to 3.72pc; 11 more die, Senior journalist Saleem Asmi passes away in Karachi, Another doctor dies from coronavirus in Peshawar, Saudi Arabia to resume Umrah for international pilgrims from November, CII advises govt not to use un-Islmaic anti-Covid tag line, French minister tells Pakistan, Turkey to stay out of country’s domestic affairs, Economic Survey 2018-19: Economy hits nine-year low at 3.3pc. GDP growth rate falls to 3.29% in 2018-19 Pakistan achieved a GDP growth of 3.29% during the outgoing fiscal year, falling short of its targeted 6.2%, Prime Minister’s Adviser on Finance Dr Abdul Hafeez Sheikh said Monday. In housing services, the actual growth was recorded at 4% in line with the target growth. --Revenue collection reaches 14.9pc of GDP compared to last year’s 15.1pc; FBR’s tax receipts register 1.8pc growth--Trade deficit decreases by 7.3pc; fiscal deficit stands at 5.5pc This, along with the deposits placed with the central bank by friendly countries, is expected to help Pakistan meet its payment obligations – import payments and debt servicing – over the next many months. It increased to 5.8 per cent in July 2018 and after remaining sticky at 5 per cent during the following two months increased to 6.8 per cent in October 2018. GDP Growth Rate in Pakistan averaged 4.92 percent from 1952 until 2018, reaching an all time high of 10.22 percent in 1954 and a record low of -1.80 percent in 1952. The Gross Domestic Product (GDP) in Pakistan expanded 5.79 percent in fiscal year 2017/18, ending in June 2018. The spike witnessed in October 2018 was due to an increase in gas prices. The consumption growth was recorded at 11.9 per cent against 10.2 per cent growth recorded last year. 4-Shaarey Fatima Jinnah, Lahore Within total expenditures, current expenditures posted a growth of 17.7 per cent to Rs4,798.4 billion (12.4 per cent of GDP) during July-March CFY2019 as compared to Rs4,075.4 billion (11.8 per cent of GDP) in the same period last year. Pakistan’s real GDP growth is estimated to have declined from 1.9 percent in FY19 to -1.5 percent in FY20. “This helped in reducing the trade deficit by 7.3% during July-April FY18-19, while it had shown an expansion of 24.3% during the corresponding period last year,” it stated. The fiscal deficit was recorded at 5% of the GDP compared to 4.3% in the corresponding period last fiscal. The same period last year saw Rs 931.4 billion expenditure. In finance and insurance, the actual growth was recorded at 5.14% as opposed to target growth of 7.5%. In wholesale and groceries businesses, actual growth was recorded at 3.11% as opposed to target growth of 7.8%. On the contrary, development expenditures (excluding net lending) decreased to Rs655.9 billion during July-March CFY2019 against Rs993.3 billion last year, posting negative growth of 34.0 per cent as compared to positive growth of 23.6 per cent recorded last year. The fixed investment as a percentage of GDP remained at 13.8 per cent against the target of 15.6 per cent, while public and private investments remained at 4.0 and 9.8 per cent against the targets of 4.8 and 10.8 per cent respectively. The agriculture sector registered a growth rate of 0.85 per cent against the target of 3.8 per cent; industrial sector 1.4 per cent against 7.6 per cent and the services sector 4.7 per cent against 6.5 per cent. The government’s total expenditure increased by 8.7% from July-March 2019 to Rs 5,506.2 billion (14.3% of GDP) against last year’s spending of Rs 5,063.3 billion (14.6% of GDP). Ph: +92 42 36375963-5 Fax: 042-36298302 Pakistan - GDP growth (annual %) The value for GDP growth (annual %) in Pakistan was 5.83 … “Decelerated performance of total revenues primarily was due to marginal growth of 1.8% in tax revenues and negative growth of 16.7% in non-tax revenues,” the survey explained. In the meantime, Pakistan’s rupee has depreciated around 44 per cent since December 2017, resulting in an increase in the debt servicing cost as well as inflationary pressure.

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