The federal government will launch the pre-budget document, Economic Survey of Pakistan 2021-22, on Thursday.
Minister for Finance and Revenue Miftah Ismail will chair the ceremony.
The Economic Survey is expected to present a robust gross domestic product (GDP) growth rate of 5.97%, albeit with a higher current account deficit of over $13.7 billion, and a mixed trend of performance by the key macroeconomic indicators during the outgoing fiscal year.
The Survey is scheduled to be shared with the media at a press conference during which an overview of the economic progress made in recent years in Pakistan would also be provided, official sources said.
The Survey would highlight the main features of the policies undertaken by the present government, which are focused on bringing macro-economic stability and putting the economy on the growth trajectory.
The Economic Survey covers the development of all the important sectors of the economy, including growth and investment, agriculture, manufacturing, mining, fiscal development, money and credit, capital markets, inflation, debt, and liabilities.
According to the Planning Commission’s estimations made in the 105th meeting of the National Accounts Committee (NAC), the provisional GDP growth rate for the year 2021-22 had been estimated at 5.97%, with broad-based growth in all the sectors of the economy.
The growth of agricultural, industrial, and services sectors will be 4.4%, 7.19%, and 6.19% respectively. The growth of important crops is 7.24%. The growth in production of cotton, rice, sugarcane, and maize is estimated at 17.9%, 10.7%, 9.4%, and 19.0% respectively.
The services sector also showed a growth of 6.19%. The wholesale and retail trade industry grew by 10.04%. It is dependent on the output of agriculture, manufacturing, and imports. Further, the volume of the economy in terms of the US dollar in 2021-22 stood at $383 billion.
Most of the targets set for the outgoing fiscal year 2021-22 seemed to be achieved or even surpassed the previous years’ targets, as the macro economic indicators have shown good performance during the year.