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.”.