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New Delhi: Pakistani GDP is growing faster than the target set by the previous Imran Khan government but the current Minister of Finance and PML Leader (N) Miftah Ismail are not happy “Unfortunately, weak economic management from the previous government has caused the damage to the exchange rate, inflation Height and expands the twin deficits, so that it brings Pakistan to the threshold of the financial crisis “, Ismail has been quoted in the Pakistani economic survey 2021-2022, the annual financial document released on Thursday. However, not all were convinced by the Minister of painting the PTI government as all black.
Pakistani GDP grew up at 5.97 percent in 2021-22 against the target set by the PTI government of 4.8 percent, Pakistan Economic Survey 2022 revealed.
The reaction was mixed, with some blaming the government of Imran Khan for his failure and the others asked why he had to go.
Investment banker Mir Mohammad Khan said it was a mistake in eliminating Imran Khan because Pakistan ‘rose’ under his leadership.
Adil Raja, a retired major and columnist, said the survey proved Pakistan very developed. “Then why was Imran Khan moved,” he said.
An editorial in Dawn said that the economy was in its track to ‘strong recovery’ from the Covid-19 pandemic era, before adding that the findings clarified that it would not be in any party control to set a strong direction for the company for the economy at least for at least for the economy at least for the economy for at least next year “.
In a debate in Geo News, Economist Khaqan Najeeb said the Imran Khan government gave a fiscal stimulus to recover from a jolt that was induced by the economy. However, economic recalibration or cooling is needed. The current situation in “Orange Code”, he said.
The 500-page survey report highlighted the post-standard growth of the country in the midst of the Russian-Ukraine conflict. In the report, Minister of Finance Ismail said that the economic impact of Russian-Ukraine conflict manifested in terms of higher commodity prices, disrupting trade chains and supplies, lower business trust, and increasing investor uncertainty.
“The fall of the conflict will contribute to a significant slowdown in global growth in 2022 and 2023. Global economic growth is projected to slow down from around 6.1 percent in 2021-22 to 3.6 percent in 2022-23,” said Ismail, in accordance with that’s a report.
The agricultural sector in Pakistan posted a growth of 4.4 percent, while the industrial sector recorded a growth of 7.2 percent in the 2022 financial year compared to the growth of 7.8 percent in FY 2021. While the total revenue reached 8.8 percent of GDP compared to 8.9 Last year’s percent, total tax collection grew by 28.1 percent to reach PKR 4.821 billion compared to PKR 3,765 billion in the previous year. Pakistani defense expenditure is 2.5 percent of this year’s GDP compared to 2.4 years ago.
