Vibrant agriculture accelerates Pakistan’s economic expansion
Pakistan’s economy will grow at a higher rate in the outgoing fiscal year, beating international lenders’ predictions. However, due to a downturn in the manufacturing and service sectors, it failed to meet budgetary projections. The provisional GDP growth is anticipated to be 2.38 per cent for FY24, surpassing the projections of International Monetary Fund’s 2pc, Asian Development Bank’s 1.9pc and World Bank’s 1.8pc. However, the State Bank of Pakistan has forecast a 2-3pc economic growth in FY24. The government has projected a GDP growth target of 3.50pc, but it is all set to miss it.