{"id":64663,"date":"2020-04-25T10:29:00","date_gmt":"2020-04-25T05:29:00","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=64663"},"modified":"2020-04-27T14:46:33","modified_gmt":"2020-04-27T09:46:33","slug":"relief-concessions-construction-industry-buffer-pakistan-economy","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/relief-concessions-construction-industry-buffer-pakistan-economy.html","title":{"rendered":"Construction industry relief package to buffer Pakistan\u2019s economy against major blows: Moody\u2019s"},"content":{"rendered":"\n<p>Karachi: Moody\u2019s Investors Service has stated that Pakistan\u2019s economic growth is not likely to contract as much as some experts had formerly anticipated due to the government&#8217;s timely implementation of several incentive measures; such as the relief package announced for the construction industry and the decision of reopening some industries \u2014 which will cumulatively help to buffer the national economy against the impact of COVID-19, a news source reported.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/construction-industry-relief-package-double-documented-economy.html\" target=\"_blank\" rel=\"noreferrer noopener\">Construction industry relief package to double documented economy\u2019s size: experts<\/a><\/p>\n\n\n\n<p>The statement further said that Moody\u2019s expect Pakistan\u2019s real Gross Domestic Product (GDP) to contract only 0.1% to 0.5% in FY 2019-20 \u2013 which is nearly 1-1.5% lower than the previously anticipated. The expected contraction is however the first of its kind in the last 68 years \u2013 since FY 1951-52.<\/p>\n\n\n\n<p>At the same time, however, the various measures announced by the government will widen the fiscal deficit \u2013 expected to increase to 9.5% to 10% of the GDP because of the lower revenue in the second half of the current fiscal, despite nearly 40% higher revenue collection in the first half.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/construction-related-govt-departments-reopen.html\" target=\"_blank\" rel=\"noreferrer noopener\">Construction-related govt departments to reopen in Punjab<\/a><\/p>\n\n\n\n<p>However, the economy will recover during the next fiscal and a growth of about 2% is expected FY 2020-21.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Karachi: Moody\u2019s Investors Service has stated that Pakistan\u2019s economic growth is not likely to contract as much as some experts had formerly anticipated due to the government&#8217;s timely implementation of several incentive measures; such as the relief package announced for the construction industry and the decision of reopening some industries \u2014 which will cumulatively help to buffer the national economy against the impact of COVID-19, a news source reported. Read: Construction industry relief package to double documented economy\u2019s size: experts The statement further said that Moody\u2019s expect Pakistan\u2019s real Gross Domestic Product (GDP) to contract only 0.1% to 0.5% in FY 2019-20 \u2013 which is nearly 1-1.5% lower than the previously anticipated. The expected contraction is however the first of its kind in the last 68 years \u2013 since FY 1951-52. At the same time, however, the various measures announced by the government will widen the fiscal deficit \u2013 expected to increase to 9.5% to 10% of the GDP because of the lower revenue in the second half of the current fiscal, despite nearly 40% higher revenue collection in the first half. Read: Construction-related govt departments to reopen in Punjab However, the economy will recover during the next fiscal and&hellip;<\/p>\n","protected":false},"author":57,"featured_media":61098,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[27273],"persona":[],"class_list":{"0":"post-64663","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-relief-concessions-for-construction-industry-to-buffer-pakistans-economy-against-major-blows-moodys","9":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Construction industry relief package to buffer Pakistan\u2019s economy against major blows: Moody\u2019s - Zameen News<\/title>\n<meta name=\"description\" content=\"Karachi: Moody\u2019s Investors Service has stated that Pakistan\u2019s economic growth is not likely to contract as much as some experts had formerly anticipated\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/relief-concessions-construction-industry-buffer-pakistan-economy.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Construction industry relief package to buffer Pakistan\u2019s economy against major blows: Moody\u2019s - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Karachi: Moody\u2019s Investors Service has stated that Pakistan\u2019s economic growth is not likely to contract as much as some experts had formerly anticipated\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/relief-concessions-construction-industry-buffer-pakistan-economy.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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