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The budget included funding for a number of development initiatives to increase the nation's economic growth rate. The original outlays for the PDSP being estimated at Rs. 2.66 trillion for the development programme, which included a Rs 950 billion federal Public Sector Development Programme (PSDP), that was approved by the Annual Plan Coordination Committee (APCC). [5]
However, the Pakistan-India War of 1965 led to reduced foreign economic assistance, impacting the growth rate of large-scale manufacturing. From 1965–70, this sector grew at a comparatively lower rate of 10% per annum. Despite challenges, Pakistan achieved an impressive average annual GDP growth rate of 6.7% throughout the 1960s.
In May 2023, Pakistan's inflation rate reached 38%, surpassing Sri Lanka to become the highest country in Asia. [ 57 ] In June 2023, the Pakistani government unveiled an "Economic Revival Plan" according to which, plans on investments in key areas of production such as on agriculture, mining, Information Technology, defence and the energy ...
In February 2023, Pakistani cabinet approved 'Finance Supplementary Bill 2023' for Mini Budget. [4] The budget for FY 2022-23 aimed to raise Rs. 7 trillion ($34.6 billion) in tax revenue, raise Rs. 372 billion ($1.8 billion) from Sukuk and Eurobonds , target a primary surplus of 0.2% of GDP, target a fiscal deficit of 49% of GDP and meet IMF ...
Punjab has the largest economy in Pakistan, contributing most to the national GDP. The province's share was 60.58% in 2020 to national economy. [2] Sindh which is the second largest province in terms of population and GDP which has steadily continued to grow, contributes 23.7% to the national economy. [2]
ISLAMABAD (Reuters) -Pakistan holds its national elections on Thursday as the country grapples with an economic crisis and political uncertainty following the ouster of former Prime Minister Imran ...
During 2023, there was a significant reduction in merchandise exports, which fell by 5% to US$ 24.01 trillion, contrasting sharply with the commercial services sector, which saw a 9% increase in exports to US$ 7.54 trillion. The global GDP is expected to stabilize, maintaining a growth rate of 2.6% in 2024 and 2.7% in 2025.
Image source: The Motley Fool. Philip Morris International (NYSE: PM) Q4 2024 Earnings Call Feb 06, 2025, 9:00 a.m. ET. Contents: Prepared Remarks. Questions and Answers. Call Participants