Pakistan’s economy missed several key targets in the current fiscal year. The economic growth rate stood at 2.7%, short of the target 3.6%. Inflation was capped at 5%, significantly lower than the target 12%, which is seen as a positive development. Actual per capita income was Rs 509,175, Rs 34,794 less than the target Rs 543,969.
Indirect tax revenue reached Rs 8,393 billion, exceeding the target Rs 7,799 billion. The tax-to-GDP ratio increased from 6% to 8%, indicating a broader tax base. The agricultural sector’s performance fell short of expectations, with only 0.56% growth achieved, far below the target 2%. However, production of vegetables, fruits, oilseeds, spices, and green fodder showed improvement.
The government’s economic survey highlights other key indicators, including a strong increase in remittances and a surplus in the current account balance. Despite missing several targets, the economy shows signs of stability and growth. The government aims for a 4.2% GDP growth rate in the next fiscal year.
