Survey offers detailed insights into country’s socio-economic performance including statistics related to GDP growth, inflation
SLAMABAD: Federal Finance Minister Muhammad Aurangzeb, while presenting the Pakistan Economic Survey 2024-25 on Monday (today), revealed that the country’s Gross Domestic Product (GDP) grew by 2.7% with inflation clocking in at 4.6% in the outgoing fiscal year.
The survey holds significance ahead of the annual federal budget — set to be tabled in the National Assembly tomorrow (Tuesday) — offering detailed insights into the country’s socio-economic performance in the outgoing fiscal year. It includes statistics related to GDP growth, tax revenue, the position of various industries, and other key fiscal and economic indicators.
These include inflation, trade and balance of payments, public debt, population growth, employment levels, and the impacts of climate change. By presenting a consolidated view of these indicators, the survey aims to inform public debate and guide policy planning in the lead-up to the new fiscal year.
Divulging into the key statistics, the finance czar highlighted the major reduction in the policy rate from 22% to the current 11% and remarked that there were record recoveries in the power sector courtesy of reforms.
Noting that there was a 7% surge in Pakistan’s exports, Aurangzeb shed light on the country’s growing Information Technology (IT) potential and said that freelancers earned as much as $400 during the outgoing fiscal year, whereas the IT exports amounted to $3.1 billion.
With an 11.7% increase in imports, the current account deficit, he added, reflected a surplus of $1.9 billion along with a 26% rise in revenue collection.
On the all-important issue of remittances — which are a key source of much-valued foreign exchange — the federal minister said that they were recorded at $38 billion.
