Macroeconomic Framework Shared With IMF Targets Growth at 5.01% for FY23

Macroeconomic framework Shared with IMF targets GDP growth at 5.01% for fiscal year 2022-23. This framework got an official approval today as well. The summary approved for submission to National Economic Council (NEC) has requested the NEC to approve a GDP growth target of 5.01 percent along with sectoral growth rates of agriculture (3.9 percent), industry (5.9 percent), and services (5.1 percent) for 2022-23. According to budget documents available with ProPakistani, the country’s provisional GDP of 5.97 percent for the current fiscal year surpassed the target of 4.8 percent. The complete breakdown of the GDP along with sectoral targets is provided below: The growth during the current fiscal year was contributed by the agriculture sector (4.4 percent), industry (7.2 percent), and services sector (6.2 percent).