Dar announces its FY 2022–23 economic survey

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Dar announces its FY 2022–23 economic survey
Dar announces its FY 2022–23 economic survey
Dar announces its FY 2022–23 economic survey
Dar announces its FY 2022–23 economic survey

Ishaq Dar, the minister of finance, announced the release of the economic survey for the current fiscal year 2022–2023 and noted that economic growth and inflation rates had reached 0.3 and 29%, respectively.
The 24News HD TV channel reports that Dar spoke at a press conference in Islamabad the day before the federal budget was unveiled on Thursday and highlighted the main aspects of the economic assessment for FY 2022–2023.

Before recapping his government’s economic performance for the year, Ishaq Dar embarked into a diatribe explaining the hazardous situation the Pakistan Democratic Movement (PDM) had inherited the country in.
Das stated that Pakistan was in a strong economic position in 2017 when he last served as Nawaz Sharif’s finance minister, and that his main goal at the time was to ensure macroeconomic stability.
He acknowledged that the country’s political unrest had a negative impact on the economy, which suffered a setback and contracted by 3% in the fiscal year 2022–2023.

Monthly inflation 22-23
Monthly inflation 22-23

Almost all of the economic goals and targets, according to him, had surprisingly been missed, and the GDP growth rate had fallen to just 0.3% as a result of political and natural disasters.
Dar stated that his government has established a road map covering five driving themes, including exports, equity, energy, environment, and empowerment, and that they will concentrate on macroeconomic stability in the upcoming fiscal year 2023–2024.
He said that a sizable portion of revenue was used to pay off loans. According to him, global trade growth has decreased five times in a year and global GDP growth has been cut by 50%.

yearly inflation report 2023
yearly inflation report 2023

According to economic surveys for 2022–2023, political unrest and floods reduced economic growth to 0.3, and the inflation rate from July to March of this fiscal year reached 29%.
The war between Russia and Ukraine caused a rise in commodities prices worldwide.
More than 84,600 billion rupees worth of GDP was recorded during this fiscal year.
During the previous fiscal year, the agricultural sector’s growth was estimated to have been 4.40 percent, but this fiscal year, it has grown at a pace of 1.55 percent.

The growth rate of cattle was 3.26 percent this year, down from 3.7% during the current fiscal year.
Forestry experienced a 3.9% growth rate, while fishing experienced a 1.4% growth rate.
Manufacturing growth was negative 3.9% while the growth rate of the mineral industry was negative 4.4%.
The construction sector’s growth rate was minus 5.5% while the major industrial sector’s growth rate was negative 7.9%.

GDP growth 2023 voice news live
GDP growth 2023 voice news live

The industrial sector saw growth of 2.9%, while the services sector saw growth of 0.85%.
The set export target for the current fiscal year was not able to be met.
The exports from July through May of current fiscal year were $25 billion 36 million.
Both the growth of cotton ginning and the production of key crops was negative at 3.2% and 23%, respectively.
The real estate sector saw growth of 3.72 percent during the most recent fiscal year.

The per capita income for the current fiscal year was estimated at 1,558 dollars.
More than 17,000 billion rupees worth of industrial activity was involved in the economy of the nation.
More than 19 trillion billion rupees are invested in the agriculture, forestry, and fisheries sectors together.
The economy of the nation’s services industry was estimated to be worth more than 43,000 rupees.
The country’s economy has a 21.68 percent industrial component.

GDP growth 2023 voice news
GDP growth 2023 voice news

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