Pakistan records slower economic growth

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ISLAMABAD: Prime Minister’s Adviser on Finance Dr Abdul Hafeez Shaikh on Monday unveiled the pre-budget document “Economic Survey 2018-19” to highlight key economic indicators and performance of different sectors of the economy.

Shaikh said Pakistan fell well short of its target of 6.2% Gross Domestic Product (GDP) and recorded only 3.3% growth during the outgoing fiscal year.

The economic survey highlights the main features of the policies undertaken by the present government, which it says are focused on bringing macro-economic stability and putting the economy on a growth trajectory.

The survey covers all the important sectors of the economy, including growth and investment, agriculture, manufacturing, mining, fiscal development, money and credit, capital markets, inflation, debt and liabilities.

The survey also gives insight on the performance of agriculture, education, health and nutrition, besides showing the overall population, labour force and employment, poverty, transport and communication and per capita income.

The government is scheduled to present its first budget on Tuesday for the fiscal year 2019-20 in Parliament.

The PTI-led government says the budget will have special focus on fiscal management, revenue mobilisation, measures for economic stabilisation and growth, reduction in non-development expenditures; boosting exports besides providing relief to the masses, promoting investment for job creation and people friendly policies for the socio economic prosperity of the country.