{"id":86069,"date":"2022-05-20T12:14:16","date_gmt":"2022-05-20T07:14:16","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=86069"},"modified":"2022-05-20T12:14:22","modified_gmt":"2022-05-20T07:14:22","slug":"pakistan-6-growth-rate-fy-2021-22","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/pakistan-6-growth-rate-fy-2021-22.html","title":{"rendered":"Pakistan surprises IMF, World Bank with nearly 6% growth rate in FY 2021-22"},"content":{"rendered":"\n

Islamabad: Defying all the odds, Pakistan has attained a Gross Domestic Product (GDP) of 5.97% during the fiscal year 2021-22 ending in June, news sources reported. The jump in GDP growth is greater than the 4% and 4.30% forecasted by the International Monetary Fund (IMF) and World Bank (WB), respectively.\u00a0 <\/p>\n\n\n\n

Read:<\/strong> \u2018Construction sector\u2019s revival boosted economy, fetched PKR 1 trillion investment\u2019<\/a><\/p>\n\n\n\n

Reportedly, The current fiscal year’s (FY22) robust GDP growth is being characterised as an economic recovery from the adverse consequences of COVID-19. Following the 105th meeting of the National Accounts Committee<\/a>, led by Planning Secretary Dawood Muhmmad Bareach, the new and corrected GDP growth estimates were announced. The meeting also updated GDP numbers for the fiscal years 2020-21 from 5.57 % to 5.74 %. Similarly, it was announced that the economy expanded by USD 33.24 billion in the current year to USD 380 billion in 2021-22, up from a revised number of USD 346.76 billion the previous year. The economic growth rate is the greatest figure recorded in a single year. The economy increased in dollar terms as the rupee rose against the dollar \u2013 the most growth in any year. Other statistics given by the government include:\u00a0<\/p>\n\n\n\n

Read:<\/strong> Shift to e-payments can help create 4 mn jobs, boost GDP: SBP<\/a><\/p>\n\n\n\n

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Source: \u00a0National Accounts Committee<\/figcaption><\/figure>\n\n\n\n