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Down In The Doldrums: Pakistan’s Economy Sees Mere 3.3 Per Cent GDP Growth In 2018-19 Against Target Of 6.2 Per Cent
Pakistan Prime Minister Imran Khan speaking at the foundation laying ceremony for Kartarpur corridor. (Hindustan Times)
Pakistan's economy has suffered a serious jolt as the GDP growth rate has been reduced to 3.3 per cent for 2018-19 which is just a little over half of the targeted GDP growth rate of 6.2 per cent, reports DAWN.
The Imran Khan led government had anticipated 3.8 per cent growth in agriculture, 7.6 per cent in industry and 6.5 per cent in services, thus targeting an overall growth of 6.2 per cent in its GDP. All of these targets have fallen flat against the country’s current financial crisis.
This brings in serious worries for the nation of Pakistan as the World Bank had reported last month (April 2019) that Pakistan's economy is expected to further slow down to a GDP growth rate of mere 2.7 per cent in the new financial year (2019-20).
The World bank had also added in its South Asia Economic Focus report that the front-line drivers of Pakistan's economy - services and agriculture are both expected to further slowdown in 2019-20 significantly.
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