Pakistan government to set Gross Domestic Product target of 6 percent for the new fiscal year

Pakistan government to set Gross Domestic Product target of 6 percent for the new fiscal year starting July 1, 2017 compared to 5.3 percent of 2016-17 financial year on back of higher production expected in manufacturing and service sector.

According to the data released by the Ministry of Finance, government projected forecast of agriculture to 3.5 percent during the new fiscal year same of the current year, while livestock to show growth of 3.6 percent in 2017-18 compared with 3.4 percent growth in 2016-17.

Salient features of the Ministry of Finance are:

• Manufacturing sector show growth of 6.4 percent in 2017-18
• LSM to record growth of 6.3 percent in 2017-18
• Services sector to show increase of 6.4 percent in 2017-18
• Important crops to show growth of 2 percent in 2017-18
• Exports in 2016-17 will be around $21.7 billion vs target of $24.8 billion
• Imports in 2016-17 will be $45.7 billion vs target of $45.2 billion
• Trade deficit in 2016-17 will be $24 billion vs target of $20.4 billion
• Current account deficit in 2016-17 will be $8.3 billion vs target of $4.5 billion
• Current account deficit will be around 2.7% of GDP vs target of 1.5%