Finance Minister Unveils Economic Survey 2023-24

Finance Minister Muhammad Aurangzeb Tuesday unveiled Economic Survey for the outgoing fiscal year 2023-24 (FY24) at a press conference in Islamabad. He briefly highlighted that in FY23, GDP contracted by 0.2% percent, the PKR depreciated by 29 percent, and foreign exchange reserves fell to cover only two weeks of imports. He shared that in FY24, the country needed to enter a program with the International Monetary Fund (IMF). There was no Plan B, and without the nine-month SBA, the situation would have been very different today. “Our savior was the agriculture sector, and it will continue to be huge lever of growth as we go forward,” he added.