National Accounts Committee Meets Tomorrow to Approve GDP Estimates

The National Accounts Committee (NAC) meeting is set to meet tomorrow (Tuesday) to conclude the calculations for Pakistan’s economic indicators for the current fiscal year (FY24). The government had set the GDP growth target for the FY24 at 3.5 percent, with sectoral growth of 3.5 percent in agriculture; 3.4 percent in industrial; and 3.6 percent in services. The previous NAC meeting to review the quarterly estimates of GDP for Q1 and Q2 for FY24 was held in March this year. The country’ GDP is estimated to have posted a growth of 1 percent in the 2nd quarter of FY24 compared to the revised 2.50 percent in the 1st quarter and 2.20 percent in 2nd quarter of FY23. It is pertinent to mention here that the International Monetary Fund (IMF) has projected GDP growth rate for Pakistan at 2 percent for FY24, much below the government’s target of 3.5 percent.