Pak economy size shrinks to $264 bn

[Syed1.]

Covid is impacting every country and Pakistan is no exception but its a shame that our country with more than 200 million population have an embarassing 260-300 billion dollar economy without much reserves (less than 20 billion). Compare this to 370 billion GDP and 100billion+ reserves of Malaysia (around 30 million population) or 1 trillion dollar GDP and 100billion+ reserves of Indonesia (260 million population, just slightly more than Pak) or 330 bn GDP and 88 bn+ reserves of Philippines (100 million population)

You can thank @Tameem 's papa for this

 

[TNT]

Have you watched any zombie movie. The hypothetical conclusion that has prevailed is that you need to run or smash their heads. Also "DOUBLE TAP".

Well u said it, dont make us smash their heads.

 

[Zee-shaun]

Pakistan is less vulnerable compared to developed nations with a huge industrial output and trade. 0.4% contraction is not bad and can easily be overcome by cheap fuel prices and debt serving relief.

 

[jericho]

You can thank @Tameem 's papa for this

What is even more sad is none of the countries I mentioned are "developed" or have achieved high income status, they are still considered "developing", but still way ahead

 

[volatile]

GDP in the history of 68 years (even after 1971) is in reverse direction ,perhaps a moment of silence and clapping for current regime and there wonderful team of experts .

 

[That Guy]

Many nations GDP will be absolutely shrink due to Covid 19 outbreak. The ones who can keep their GDP get positive growth will be in a very tiny group.

Canada is likely going to face a contraction, as well as the US, we've been hit pretty hard in the west. Not to mention the massive CERB program that was announced, is gonna add significantly to out national debt here in Canada.

In fact, I'd wager most countries are either gonna face an extreme decline in growth, or out right contraction themselves.

Coronavirus has hit everyone hard.

The fact that the contraction wasn't bigger is a miracle in itself. I actually expected it to be way worse.

GDP in the history of 68 years (even after 1971) is in reverse direction ,perhaps a moment of silence and clapping for current regime and there wonderful team of experts .

The fact that you're ignoring the the coronavirus and the problems inherited by the current government from the previous two, shows that you have no clue as to what is actually going on in Pakistan.

 

[Dil_Pakistan]

I do not have that information but most likely it would be contraction or very minimal growth unless economy really rebounds on the back of cheap fuel prices.

Thanks for the information .
That makes things clear .
What are the predictions for FY21 for pakistan ?

Refer to these two articles for the full information, I will only be posting some relevant parts. Inshort projection earlier this month by economic advisor was 2% growth for next year:
https://profit.pakistantoday.com.pk/2020/05/18/govt-projects-0-38pc-gdp-growth-in-fy20/

The National Accounts Committee (NAC) has estimated the country’s Gross Domestic Product (GDP) growth rate at -0.38pc for the current financial year (FY20).

During the 102nd NAC meeting, which was chaired by Planning Secretary Zafar Hasan, it was formed that the provisional GDP growth for the year 2019-20 has been estimated at -0.38pc, based upon growth estimates of agricultural, industrial and services sectors.

“The provisional estimates of the GDP and Gross Fixed Capital Formation (GFCF) for the year 2019-20 were presented on the basis of latest data of 6-9 months, which were annualized by incorporating the impact of Covid-19 for the final quarter,” said a statement issued on Monday. “The smart lockdown policy adopted by the government minimised the impact on economic growth compared to compete lockdown situation.”

It may be noted that following the outbreak of coronavirus in the country, the International Monetary Fund (IMF), World Bank, finance ministry and the State Bank of Pakistan had predicted up to -1.5pc economic growth for the current fiscal year.
......
According to the planning ministry, GDP at current market prices has been computed and stands at Rs41,727 billion for 2019-20. This shows a growth of 9.9pc over Rs37,972 billion for 2018-19.

The per capita income for 2019-20 was calculated at Rs214,539 for 2019-20, showing a growth of 8.3pc over Rs198,028 during 2018-19.

It is pertinent to mention that the country would witness a negative growth in its economy the first time since 1951 largely due to the corona virus pandemic.

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The -1 to 1.5% mentioned below is IMF projection etc. before the Govt. came up recently with its projections and numbers based on its data as seen in above article

https://profit.pakistantoday.com.pk...h-expects-2pc-gdp-growth-in-next-fiscal-year/

With current projections of -1.5 GDP growth rate owing to the impact of COVID-19 pandemic, the country’s economy would turn around to witness 2pc growth in upcoming fiscal year (2020-21), Adviser to Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh said on Thursday.

Participating in a webinar on “Pakistan Economy: Post COVID-19”, organised by the Institute of Chartered Accountant of Pakistan (ICAP), the adviser said that Pakistan was initially expecting around 3pc growth during the current fiscal year, however, it would end up being -1pc to 1.5pc due to coronavirus impact.

“With improvements in corona situation, the GDP rate is expected to grow by 2pc next year,” he claimed.

 

[volatile]

The fact that you're ignoring the the coronavirus and the problems inherited by the current government from the previous two, shows that you have no clue as to what is actually going on in Pakistan.

Pre Corona virus was the same its like now blame it on Corona here are some figures of GDP growth in PTI regime .

https://www.thenews.com.pk/print/660933-pakistan-s-economy-size-shrinks-to-264b

 

[That Guy]

Pre Corona virus was the same its like now blame it on Corona here are some figures of GDP growth in PTI regime .

https://www.thenews.com.pk/print/660933-pakistan-s-economy-size-shrinks-to-264b

Read my entire comment, before replying. I didnt just blame the coronavirus.

GDP growth isn't everything, and can be very misleading.

During the PMLN era, Pakistan had decent GDP growth, but it was all artificial, as it was driven by massive vanity projects, with no long term benefits.

Even in India, the GDP growth is misleading; unemployment, economic inequality, and price for basic commodities has skyrocketed, despite having really high growth rate.

This is why I say that you know nothing. Stop it.

 

[volatile]

Read my entire comment, before replying. I didnt just blame the coronavirus.

GDP growth isn't everything, and can be very misleading.

During the PMLN era, Pakistan had decent GDP growth, but it was all artificial, as it was driven by massive vanity projects, with no long term benefits.

Even in India, the GDP growth is misleading; unemployment, economic inequality, and price for basic commodities has skyrocketed, despite having really high growth rate.

This is why I say that you know nothing. Stop it.

Lol at your Naivness ,GDP growth is a sum of many things which represents the over all economic activity here is Macro Economics 101 . GDP = Consumer Spending + FDI + Govt Spendings PSDP + Exports . Now tell me which variables are not true representative of over all economic growth ? FOr massive vanity projects these were mainly power and infrastructure project which by the way elevates development and economic activity ,Im starting to believe from your post you have absolutely no idea of what you are writing ,for time being absorb and study above and come back when you understand ,also there is no growth called artificial growth

 

[Syed1.]

Lol at your Naivness ,GDP growth is a sum of many things which represents the over all economic activity here is Macro Economics 101 . GDP = Consumer Spending + FDI + Govt Spendings PSDP + Exports . Now tell me which variables are not true representative of over all economic growth ? FOr massive vanity projects these were mainly power and infrastructure project which by the way elevates development and economic activity ,Im starting to believe from your post you have absolutely no idea of what you are writing ,for time being absorb and study above and come back when you understand ,also there is no growth called artificial growth

You have absolutely no idea what you are talking about. First please educate yourself then give opinion.

 

[That Guy]

Lol at your Naivness ,GDP growth is a sum of many things which represents the over all economic activity here is Macro Economics 101 . GDP = Consumer Spending + FDI + Govt Spendings PSDP + Exports . Now tell me which variables are not true representative of over all economic growth ? FOr massive vanity projects these were mainly power and infrastructure project which by the way elevates development and economic activity ,Im starting to believe from your post you have absolutely no idea of what you are writing ,for time being absorb and study above and come back when you understand ,also there is no growth called artificial growth

This comment of your PROVE you have no idea what you're talking about.

You don't even know what GDP is, so just keep quiet, before you continue to embarrass yourself.

 

[volatile]

You have absolutely no idea what you are talking about. First please educate yourself then give opinion.

sums up the intellect level

This comment of your PROVE you have no idea what you're talking about.

You don't even know what GDP is, so just keep quiet, before you continue to embarrass yourself.

prove me wrong present your hypothesis ,other wise being Analyst think tank embarassment is all yours

 

[Syed1.]

sums up the intellect level


prove me wrong present your hypothesis ,other wise being Analyst think tank embarassment is all yours

I hope my intellectual level never reached the heights that yours has reached inshallah

 

[That Guy]

sums up the intellect level


prove me wrong present your hypothesis ,other wise being Analyst think tank embarassment is all yours

https://www.investopedia.com/terms/g/gdp.asp

That should explain what gdp is, and why what you said is completely nonsense.

Learn what gdp actually is, before talking to me again.