Pakistan’s economy contracts by $33.4 billion: PBS

[Dalit]

May 26, 2023 (MLN): The total volume of Pakistan's economy has decreased by $33.4 billion or 8.91%, from $375bn in FY23 to $341.6bn in FY22, according to the data released by the Pakistan Bureau of Statistics (PBS).

Meanwhile, per capita income stood at $1,568 in 2023 as compared to $1,766 in the previous year depicting a decrease of 11.38% YoY, PBS data further revealed.

The current fiscal year marks a decrease of $198 per capita income for Pakistan.

This was the third lowest per capita income in a decade, with the lowest in the decade being $1458 achieved in FY20 due to covid, whereas the highest achieved was $1768 in FY18

On the other hand. in the fiscal year 2021, the per capita income achieved was $1,677.

Health sector improved to 8.49% against the target of 3.8%.

The education sector also improved by 10.44% against the target of 4.9%.

While the performance of the Information and Communication sector exceeded the target of 6% with a growth rate of 6.9%, as stated in the report.

Pakistan’s economy contracts by $33.4 billion: PBS - Mettis Global Link

The total volume of the country's economy has decreased by $33.4 billion, according to the data released by the Pakistan Bureau of Statistics (PBS)...

mettisglobal.news

 

[Samlee]

All Thanx To Our Beloved Property Dealers

 

[wildlens]

its ok. that's notional because of USD rates movement. Tomorrow if PKR jumps up to 250 , then economy would have gone up 20%

 

[Mugen]

They will make a martyr out of our country, that's the only thing this Napak fauj is good at doing.

 

[CallSignMaverick]

@RiazHaq what about the growth rate of undocumented informal economy?

 

[Muji.Iqbal]

May 26, 2023 (MLN): The total volume of Pakistan's economy has decreased by $33.4 billion or 8.91%, from $375bn in FY23 to $341.6bn in FY22, according to the data released by the Pakistan Bureau of Statistics (PBS).

Meanwhile, per capita income stood at $1,568 in 2023 as compared to $1,766 in the previous year depicting a decrease of 11.38% YoY, PBS data further revealed.

The current fiscal year marks a decrease of $198 per capita income for Pakistan.

This was the third lowest per capita income in a decade, with the lowest in the decade being $1458 achieved in FY20 due to covid, whereas the highest achieved was $1768 in FY18

On the other hand. in the fiscal year 2021, the per capita income achieved was $1,677.

Health sector improved to 8.49% against the target of 3.8%.

The education sector also improved by 10.44% against the target of 4.9%.

While the performance of the Information and Communication sector exceeded the target of 6% with a growth rate of 6.9%, as stated in the report.

Pakistan’s economy contracts by $33.4 billion: PBS - Mettis Global Link

The total volume of the country's economy has decreased by $33.4 billion, according to the data released by the Pakistan Bureau of Statistics (PBS)...

mettisglobal.news

Ummm... how reliable is the news source?

I have yet to see on Dawn news.

 

[Jango]

Ummm... how reliable is the news source?

I have yet to see on Dawn news.

These are official figures presented in the NA committee on economic affairs and PAC as well I believe. All done by PBS and Ministry of Finance itself.

 

[Muji.Iqbal]

These are official figures presented in the NA committee on economic affairs and PAC as well I believe. All done by PBS and Ministry of Finance itself.

I saw the website. It does not look official or reliable.

 

[That Guy]

These are official figures presented in the NA committee on economic affairs and PAC as well I believe. All done by PBS and Ministry of Finance itself.

This is not good news for Pakistan, especially considering how poorly the economy is doing.

 

[Muji.Iqbal]

These are official figures presented in the NA committee on economic affairs and PAC as well I believe. All done by PBS and Ministry of Finance itself.

I checked DAWN news business section. Still nothing about the Pakistani economy contracting.

This is not good news for Pakistan, especially considering how poorly the economy is doing.

Yes, I know, we are only a $400 billion dollar economy with 242 million people.

 

[Mirzali Khan]

Ummm... how reliable is the news source?

I have yet to see on Dawn news.

I saw the website. It does not look official or reliable.

I checked DAWN news business section. Still nothing about the Pakistani economy contracting.

It is reliable, the PDM led government released their official figure at 0.29% which is a sharp contrast and downturn from 6.1% during Imran Khan's time.

The Express Tribune reported on it:

Economy shrinks from 6.1% to 0.3% under PDM govt’s watch | The Express Tribune

Curbs on imports leave industrial sector crippled

tribune.com.pk

In addition, it is believed by some that the figure of 0.29% is actually fudged and the number would actually be in the negative.

https://twitter.com/x/status/1661638770096066561

 

[Redbeanpaste]

from $375bn in FY23 to $341.6bn in FY22,

If it was 341 billion in FY'22 and is now 375billion in FY'23

Where is the decrease? It looks like an increase.

I am not going to believe a guy who hasn't done even basic proofreading.

 

[Olympus81]

Dar the fudger probably pulled it from -2% to positive territory.

 

[PakSword]

Any Pakistani who wants to migrate to Australia, contact me.

 

[migflug]

https://twitter.com/x/status/1661690453643624448

Could be even below $300 billion