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Home Economy

Pakistan Economic Survey 2021-22 launched

by News Publishing
June 9, 2022
in Economy, Finance
Reading Time: 2 mins read
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Economic Survey 2021-22 launched
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Federal Minister for Finance and Revenue, Miftah Ismail on Thursday formally launched the pre-budget document, Pakistan Economic Survey 2021-22 during a press conference in Islamabad.

Finance Minister Mr. Miftah Ismail has launched the Pakistan Economic Survey 2021-22 alongwith Fed Min Planning Mr. Ahsan Iqbal, Fed Min Energy Khurram Dastgir, MoS Dr Aisha Ghous Pasha and Finance Secretary and Economic Adviser l. pic.twitter.com/KtZ0Ot7ZAf

— Ministry of Finance, Government of Pakistan (@Financegovpk) June 9, 2022

Pakistan Economic Survey 2021-22 has been launched by Finance Minister Miftah Ismail, Fed Min Planning Ahsan Iqbal, Fed Min for Energy Khurram Dastgir , MoS Dr. Aisha Ghous Pasha today.

Pakistan Economic Survey 2021-22 has been launched by Finance Minister Miftah Ismail, Fed Min Planning Ahsan Iqbal, Fed Min for Energy Khurram Dastgir , MoS Dr. Aisha Ghous Pasha today. pic.twitter.com/ZvAOGXsflN

— Ministry of Finance, Government of Pakistan (@Financegovpk) June 9, 2022

Finance Minister Miftah Ismail has vowed to lead the country towards responsible, sustainable and inclusive growth.

While unveiling the Economic Survey 2021-22  in a press conference along with Planning Minister Ahsan Iqbal, the finance minister highlighted the key economic indicators and the performance of different sectors of the economy during the fiscal year 2021-22.

Key highlights of the Economic Survey

  1. The real GDP posted a growth of 5.97 percent.
  2. For July-April FY2022, the current account deficit remained US$13.8 billion against the deficit of US$0.5 billion.
  3. The investment to GDP ratio remained 15.1 percent compared to 14.6 percent recorded in FY2021.
  4. The agriculture sector posted a growth of 4.4 percent
  5.  The industrial sector recorded a growth of 7.2 percent in FY2022 compared to 7.8 percent growth in FY2021.
  6. Total revenues increased by 17.7 percent and reached Rs 5,874.2 billion
  7. Total tax collection (Federal & Provincial) grew by 28.1 percent
  8. Non-tax revenues, on the other hand, fell 14.3 percent to Rs 1,052.2 billion in July-March FY2022
  9. Total expenditures grew by 27.0 percent to reach Rs 8,439.8 billion in July-March FY2022 against Rs 6,644.6 billion last year.
  10.  Current expenditures grew by 21.2 percent to Rs 7,378.0 billion during July-March FY2022 as compared to Rs 6,085.4 billion in the comparable period of last year.
  11. Total development expenditure increased significantly by 54.6 percent to Rs 1,032.7 billion in July-March FY2022
  12. The federal PSDP grew by 28.1 percent to Rs 452.3 billion during July-March FY2022 against Rs 353.0 billion last year.
  13. FBR tax collection during July-May FY2022 increased by 28.4 percent
  14. During July-March FY2022, all the four provinces posted a combined surplus of Rs 599.8 billion
  15. The fiscal deficit increased to 3.8 percent of GDP (Rs 2,565.6 billion) during July-March FY2022 against 3.0 percent of GDP (Rs 1,652.0 billion) in the same period of last year.
  16. The primary balance posted a deficit of Rs 447.2 billion against the surplus of Rs 451.8 billion during the period under review.
  17. The headline inflation CPI averaged 11.3 percent during July-May FY2022 against 8.8 percent in the comparable period last year.
  18. The trade deficit increased by 49.6 percent in July-April FY2022 to US$ 32.9 billion as compared to US$ 22.0 billion in the corresponding period last year.
Tags: Economic SurveyFederal Minister for Finance and RevenuelatestMiftah Ismail
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