Pakistan’s GDP to show negative growth of 0.38% after 68 years

MG News | May 18, 2020 at 04:48 PM GMT+05:00

0:00

May 18, 2020 (MLN): Pakistan’s Gross Domestic Product (GDP) during the ongoing fiscal year (FY20) is expected to show negative growth of 0.38% after 68 years.

This suggests that FY20 is going to be the first fiscal year after 1952 to record negative growth as GDP in this year showed a growth of -1.81%.

Before pandemic, the growth forecast of GDP for FY20 was at 4%.

To recall, in FY19 and FY18, GDP growth amounted to 1.91% and 5.53% respectively.

Services sector is expected to show minus 0.59% performance and Industry to show negative growth of 2.64% against the growth of 4.8% and 2% forecasted earlier for Services and Industrial sector respectively.

On the other hand, Agriculture sector is likely to post a growth of 2.67 percent during the current fiscal year against the previous growth forecast of 2.9%.

During the previous fiscal year (FY19), Services sector and Agriculture sector showed a growth of 3.75% and 0.58% respectively, while Industrial sector showed a negative growth of 2.27 percent in 2018-19.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	161,631.73 408.94M	3.13% 4898.86
ALLSHR	98,254.73 951.34M	2.71% 2590.07
KSE30	49,377.29 213.50M	3.40% 1624.91
KMI30	232,700.28 121.13M	2.88% 6525.03
KMIALLSHR	64,179.60 399.93M	2.39% 1496.52
BKTi	46,334.17 105.09M	5.56% 2441.42
OGTi	31,362.73 10.58M	1.56% 482.31

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	109,685.00	111,630.00 107,835.00	2730.00 2.55%
BRENT CRUDE	64.60	65.15 63.81	0.23 0.36%
RICHARDS BAY COAL MONTHLY	80.50	0.00 0.00	-1.50 -1.83%
ROTTERDAM COAL MONTHLY	92.90	92.90 92.90	-0.25 -0.27%
USD RBD PALM OLEIN	1,082.50	1,082.50 1,082.50	0.00 0.00%
CRUDE OIL - WTI	60.81	61.38 59.99	0.24 0.40%
SUGAR #11 WORLD	14.42	14.49 14.20	0.14 0.98%