Tomorrow, on Tuesday, the National Accounts Committee (NAC) will convene to finalize the economic indicator calculations for Pakistan for the current fiscal year (FY24).
The government had targeted 3.5 percent GDP growth for FY24, with growth in the agricultural, industrial, and service sectors accounting for 3.4, 3.6, and 3.5 percent of the total.The previous NAC meeting, which reviewed the Q1 and Q2 GDP estimates for FY24, took place in March of this year. In contrast to the revised 2.50 percent increase in the first quarter and 2.20 percent growth in the second quarter of FY23, the country’s GDP is predicted to have grown by 1% in the second quarter of FY24.
It is important to note that Pakistan’s GDP growth rate is expected by the International Monetary Fund (IMF) to be 2% in FY24, far lower than the government’s aim of 3.5 percent.
