Islamabad, Sep 30: Pakistan’s economy has demonstrated stable growth of 3.07 percent during the fourth quarter (Q4) of FY 2023-24, as per estimates approved by the National Accounts Committee (NAC) on Monday.
In Q4, the growth rates for various sectors were as follows: 6.76 percent in agriculture, -3.59 percent in industry, and 3.69 percent in services.
The NAC also revised the growth estimates for the first three quarters of FY 2023-24, reporting 2.69 percent for Q1, 1.97 percent for Q2, and 2.36 percent for Q3.
These figures were adjusted from earlier estimates of 2.71 percent, 1.79 percent, and 2.09 percent, respectively.
The updated provisional growth for the overall GDP for FY 2023-24 now stands at 2.52 percent, an improvement from the previous estimate of 2.38 percent.
Pakistan’s Economy the committee revised the growth rate for FY 2022-23 to -0.22 percent, slightly down from the previous estimate of -0.21 percent.
“Overall GDP for Q1, Q2 and Q3 for FY 2023-24 has witnessed a revised growth of 2.69%, 1.97% and 2.36% as compared to 2.71%, 1.79% and 2.09% presented in the 109th meeting of the NAC respectively,” read the statement.
“We expect Pakistan GDP to grow at 2.5-3.0% in FY25 wherein we expect the agriculture sector to grow at 1.7% followed by industrial 2.1% and services at 3.4%,” said Topline Securities.
