Pakistan’s GDP Growth Forecast Cut to 3.2% by Statistics Office PPP Failed

[RayKalm]

Pakistan

Pakistan’s economy will probably expand 3.2 percent in the fiscal year through June 2012, lower than a previous forecast of 4 percent, the nation’s statistics office said in a preliminary estimate.

Gross domestic product increased 3 percent in the 2010-2011 financial year, more than an earlier report of 2.4 percent, following a change in the base year for calculating the pace of expansion, the Pakistan Bureau of Statistics also said in a statement released yesterday.

Pakistan’s $200 billion economy has been hampered by blackouts from its worst energy crisis, an insurgency on the Afghan border, elevated inflation and diminished aid flows. The nation’s Supreme Court yesterday convicted Prime Minister Yousuf Raza Gilani of contempt of court, adding to political tensions ahead of general elections due by February.

“Growth will remain subdued this fiscal year,” said Khalid Iqbal Siddiqui, the head of research at Karachi-based United Bank Ltd. “Manufacturing industries are suffering from power and gas shortages, while there are signs that the urban economy dominated by the service sector is performing poorly as well.”

 

[farhan_9909]

last week the finance minister was crying for 4% growth in Washington

though i suspect the ADB and IMF is right.
growth would be around 3.6%.

 

[farhan_9909]

Unmet target: Shaikh wants PBS growth figure revised – The Express Tribune

ISLAMABAD:

The credibility of the country’s statistical system has been put at stake as Finance Minister Dr Abdul Hafeez Shaikh has pressed Pakistan Bureau of Statistics (PBS) to “review this year’s provisional growth figure of 3.2%”, which remains below the revised target.

 

[Pak47]

With good government, Pakistan sirf agay buray ga.
Gdp will continue to increase inshallah