Aaj English TV

Wednesday, February 28, 2024  
17 Shaban 1445  

Ahead of Pakistan federal government budget, economic survey today

Runaway inflation and current account deficit bad news
File: AFP
File: AFP

The Economic Survey for the current financial year will be released today, Thursday, a day ahead of the new budget.

Pakistan’s economy grew 6% this fiscal year. The survey will present the successes and failures of the current financial year.

According to sources, several important economic targets have been achieved, including economic growth, in agriculture and industry.

The growth of the agricultural sector was 4.4 percent against the target of 3.5 percent. The growth of the industrial sector was 7.2 percent and that of the services sector was 6.2 percent.

Inflation was, however, 13.3% against the target of 8%. The investment rate was 15.1%. The current account deficit stands at Rs13.8 billion while the trade deficit stood at Rs43.33 billion.

Austerity measures The federal government has decided to make some major changes to try to tackle the economic crisis.

  1. Saturday has been restored as a day off for government offices. Office hours are now 8 am to 4 pm from Monday to Thursday. On normal days, the interval for prayers will be from 1pm 1:30pm. On Friday, office hours will be from 8am to 4pm and the prayer break from 12:30pm to 2:30pm.
  2. Markets will now close at 8:30pm across the country.
  3. Wedding halls in Islamabad will close at 10:30pm and can only serve one dish at events.

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Inflation

Economic Survey

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