Islamabad: The main points of the economic survey of the current financial year 2022-23 have come out, according to which the economic targets set for the current financial year could not be achieved.
According to the key points of the Economic Survey, the economic growth rate for the current financial year was 0.29 percent while the target was 5.01 percent.
Similarly, the agricultural sector growth rate stood at 1.55 percent, against the target of 3.9 percent.
Severe floods in the country also affected other economic sectors including agriculture. The growth rate of crops was negative 2.49%.
The growth of major crops stood at negative 3.20 percent while the growth target of major crops was set at 3.5 percent. The growth rate of livestock growth stood at 3.78 percent against the target of 3.7 percent. Fisheries sector growth stood at 1.44 percent, against the target of 6.1 percent.
The growth rate of the forestry sector was 3.93 percent. Its target was set at 4.5 percent. The growth rate of the industrial sector stood at negative 2.94 percent against the target of 5.9 percent.
In addition, the growth of major industries 7. In contrast to 4 percent half, it was negative 7.98 percent. The growth of small industries was 9.03 percent against the target of 8.3 percent.
According to the highlights of the Economic Survey, the growth rate of electricity, gas and water supply stood at 6.03 percent against their target of 3.5 percent.
The growth rate of the construction sector was negative at 5.53 percent, against the target of 4 percent. The growth of information and communication sectors was 6.93 percent and its fixed target was 6 percent.
Apart from this, the growth of real estate activities was 3.72 percent against the target of 3.8 percent. The sectoral growth of education was 10 percent against the target of 4.9 percent. It was 44 percent. According to the economic survey, the country’s economy faced natural disasters like floods in the current financial year.
Due to floods and political instability, the economic growth remained low. Due to the Russia-Crane war, an increase in the global commodity price was recorded, due to which the inflation rate was recorded.
The size of the country’s economy decreased to 341 billion 50 million dollars. Compared to the previous financial year, the GDP decreased by 34 billion dollars. In the year 2021-22, the size of the country’s economy was 375.4 billion dollars.
It should be noted that the economic survey of the current fiscal year 2022-23 will be presented tomorrow at 4:30 pm.
