Economic Survey 2013-14: 'GDP growth rate crossed 4% for first time in six years'
GDP growth rate reached up to 4.14% for the first time in last six years, says Dar.
Finance Minister Ishaq Dar presenting the Economic Survey. SCREENGRAB: EXPRESS
ISLAMABAD:
The Gross Domestic Product (GDP) growth rate reached up to 4.14% for the first time in the last six years, boasted Finance Minister Ishaq Dar while presenting the Economic Survey 2013-14.
He promised that the government will try to increase the GDP by 1% every year aiming to take it to 7% in 2017. He also said that around Rs42 billion will be saved every year in loan repayment.
The survey says that imports in ten months of this financial year reached $12.9 billion against $11.6 billion last year, indicating an increase of 1.2%, reported Radio Pakistan.
6:29pm
Figures (for 10-months):
Imports: $37.1 billion (as compared to $36.7 billion last year)
Increase in imports: 1.2%
Current account deficit: $2.162 billion (as compared to $1.574 billion last year)
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6:20pm
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6:17pm
Some figures presented by Dar:
Water supply: 98 million acre feet (as compared to 89.6 million acre feet)
Consumer Price Index: 8.69% (as compared to 7.75% last year; this is according to 10-month figures)
Core inflation: 8.24% (as compared to 9.91% last year; this is according to 10-month figures)
Exports: $21 billion (as compared to $20.1 billion last year; this is according to 10-month figures)
Increase in exports: 4.24%
Growth in export of textile group: 7% (10-month figure)
Growth in export of raw cotton: 45% (10-month figure)
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6:02pm
Commenting on missed targets, the finance minister says his government had set stretched targets in the first place to make sure all stakeholders give their 100% to improve the economy.
"Whatever we have achieved in the outgoing year will be counted as achievements," says Dar.
Figures:
Growth in important crops: 3.74% (as compared to 1.19% last year)
Wheat: 25.29 million tonnes (as compared to 24.21 million tonnes)
Rice: 6.8 million tonnes (as compared to 5.54 million tonnes last year)
Sugarcane: 66.47million tonnes (as compared to 63.75 million tonnes last year)
Maize: 4.53 million tonnes (as compared to 4.22 million tonnes last year)
Cotton: 12.77 million bales (as compared to 13.03 million bale last year)
……………………………………………………………………………………………………………………………………
5:53pm
A few figures presented by Dar during his speech:
Growth in wholesale and retail trade: 5.18% (as compared to 3.38% last year).
Growth in Services Sector: 4.29%
Core inflation: 8.2% (as compared to 9.7% last year)
Exchange rate: 98.77 on May 21 (as compared to 99.66 last year)
Growth in transport, storage and communication: 2.98% (as compared to 2.88% last year)
Growth in the agriculture sector: 2.12% (as compared to 2.88% last year)
……………………………………………………………………………………………………………………………………
5:48pm
Construction was -1.685% last year which rose to 11.31% this year.
Dar promises that the government will increase the GDP every year by 1%.
……………………………………………………………………………………………………………………………………
5:46pm
GDP growth rate reached up to 4% for the first time in last six years.
Around 42 billion will be saved every year in loan repayment, claims Dar.
……………………………………………………………………………………………………………………………………
5:45pm
The net government borrowing has shown tremendous improvement as it was Rs199.6 billion during July 1-May 9, 2014.
Stock market capitalisation increased by around 38%.
……………………………………………………………………………………………………………………………………
5:43pm
Electricity generation and gas distribution was -16.33% last year which has increased to 3.72% this year.
At least 14 big industries reduced prices during FY2013-14.
……………………………………………………………………………………………………………………………………
5:40pm
Around 3,665 new companies were registered this year, says the finance minister.
Large scale manufacturing has had a growth of 5.31% this year as compared to 4.08% last year.
……………………………………………………………………………………………………………………………………
5:35pm
Treasury bills have been listed on the stock exchange for the first time in the history of the country. They are being traded in the open market market now, says Dar.
The Gross Domestic Product (GDP) growth rate reached up to 4.14% for the first time in the last six years, boasted Finance Minister Ishaq Dar while presenting the Economic Survey 2013-14.
He promised that the government will try to increase the GDP by 1% every year aiming to take it to 7% in 2017. He also said that around Rs42 billion will be saved every year in loan repayment.
The survey says that imports in ten months of this financial year reached $12.9 billion against $11.6 billion last year, indicating an increase of 1.2%, reported Radio Pakistan.
6:29pm
Figures (for 10-months):
Imports: $37.1 billion (as compared to $36.7 billion last year)
Increase in imports: 1.2%
Current account deficit: $2.162 billion (as compared to $1.574 billion last year)
……………………………………………………………………………………………………………………………………
6:20pm
……………………………………………………………………………………………………………………………………
6:17pm
Some figures presented by Dar:
Water supply: 98 million acre feet (as compared to 89.6 million acre feet)
Consumer Price Index: 8.69% (as compared to 7.75% last year; this is according to 10-month figures)
Core inflation: 8.24% (as compared to 9.91% last year; this is according to 10-month figures)
Exports: $21 billion (as compared to $20.1 billion last year; this is according to 10-month figures)
Increase in exports: 4.24%
Growth in export of textile group: 7% (10-month figure)
Growth in export of raw cotton: 45% (10-month figure)
……………………………………………………………………………………………………………………………………
6:02pm
Commenting on missed targets, the finance minister says his government had set stretched targets in the first place to make sure all stakeholders give their 100% to improve the economy.
"Whatever we have achieved in the outgoing year will be counted as achievements," says Dar.
Figures:
Growth in important crops: 3.74% (as compared to 1.19% last year)
Wheat: 25.29 million tonnes (as compared to 24.21 million tonnes)
Rice: 6.8 million tonnes (as compared to 5.54 million tonnes last year)
Sugarcane: 66.47million tonnes (as compared to 63.75 million tonnes last year)
Maize: 4.53 million tonnes (as compared to 4.22 million tonnes last year)
Cotton: 12.77 million bales (as compared to 13.03 million bale last year)
……………………………………………………………………………………………………………………………………
5:53pm
A few figures presented by Dar during his speech:
Growth in wholesale and retail trade: 5.18% (as compared to 3.38% last year).
Growth in Services Sector: 4.29%
Core inflation: 8.2% (as compared to 9.7% last year)
Exchange rate: 98.77 on May 21 (as compared to 99.66 last year)
Growth in transport, storage and communication: 2.98% (as compared to 2.88% last year)
Growth in the agriculture sector: 2.12% (as compared to 2.88% last year)
……………………………………………………………………………………………………………………………………
5:48pm
Construction was -1.685% last year which rose to 11.31% this year.
Dar promises that the government will increase the GDP every year by 1%.
……………………………………………………………………………………………………………………………………
5:46pm
GDP growth rate reached up to 4% for the first time in last six years.
Around 42 billion will be saved every year in loan repayment, claims Dar.
……………………………………………………………………………………………………………………………………
5:45pm
The net government borrowing has shown tremendous improvement as it was Rs199.6 billion during July 1-May 9, 2014.
Stock market capitalisation increased by around 38%.
……………………………………………………………………………………………………………………………………
5:43pm
Electricity generation and gas distribution was -16.33% last year which has increased to 3.72% this year.
At least 14 big industries reduced prices during FY2013-14.
……………………………………………………………………………………………………………………………………
5:40pm
Around 3,665 new companies were registered this year, says the finance minister.
Large scale manufacturing has had a growth of 5.31% this year as compared to 4.08% last year.
……………………………………………………………………………………………………………………………………
5:35pm
Treasury bills have been listed on the stock exchange for the first time in the history of the country. They are being traded in the open market market now, says Dar.