SBP fully satisfies with 3.94pc growth rate estimate

On Monday, the State Bank of Pakistan (SBP) showed complete satisfaction over the new estimate of 3.94 per cent GDP growth for FY21, noting that the rebound was fueled by a well-calibrated policy response.

While taking it to twitter, the SBP said, “FY21 growth is expected to rise to 3.94pc, as post-Covid recovery underway since last summer has strengthened. The 9-mth current account is also in surplus for the 1st time in 17 yrs and FX reserves at a 4 yr high. This rebound was fueled by a well-calibrated policy res­ponse. Given high public debt, fiscal support was targeted to the most vulnerable, notably through the globally-acclaimed Ehsaas program. At the same time public debt and deficit were kept under check which has supported market sentiment, investment outlook, and economic recovery.”.