Economic survey 2013-14
During the current fiscal year, the government’s economic performance has been better than last year but the government had set goals for themselves that most of them could not be obtained. For the 2013-2014 fiscal year, data released by the Economic Survey has emerged.
GDB (Counterys gross domastic prodect) Grouth rate
During the fiscal year ended June 30, the Ministry of Economic Development of Finance in the Economic Survey noted that this year’s economic growth rate was lower than the target.
Finance Minister Ishaq Dar on the issue of economic survey while addressing a press conference said that , on the event of the budget speech last year, the economic growth rate target was set to 4.4, while the 4.1 percent pace of growth recorded.
Country poverty rate
The Finance Minister said that the country’s poverty rate is over fifty percent, which means that half of the population is living below the poverty line.
The government also missed its target for containing inflation at 8% that accelerated to 8.5% in the first nine months of the fiscal year. The finance minister said the IMF had predicted that inflation would run into double-digits but the government managed to restrict it to around 8.5% despite increase in electricity tariffs.
Investment target rate
Government investment target 15.1 percent did not meet the country’s investment rate was 14% of total domestic production.
Agriculture Growth rate
Agriculture sector growth target was 3.8 per cent, while the 2.12 percent pace of growth in the sector.