Pakistan sees preliminary economic growth of 3.9pc for FY 2020/21
- The planning ministry said its provisional estimate was based on data for the year so far on growth in the agricultural, industrial, and services sectors.
- Pakistan's economy was hit hard by the COVID-19 pandemic last year. On Friday the ministry also revised down GDP growth for the financial year that ended on June 30, 2020 to -0.47%, from -0.38%.
ISLAMABAD: Pakistan said on Friday that its economy is on course to grow 3.94% in the financial year that ends in June, almost double the IMF and World Bank's projections, as it recovers from the worst impact of the pandemic.
The planning ministry said its provisional estimate was based on data for the year so far on growth in the agricultural, industrial, and services sectors.
"This growth in a period in which COVID placed a huge challenge to the economy is extremely gratifying," minister for planning Asad Umar said in a tweet.
Pakistan's economy was hit hard by the COVID-19 pandemic last year. On Friday the ministry also revised down GDP growth for the financial year that ended on June 30, 2020 to -0.47%, from -0.38%.
The IMF has estimated GDP for the 2020/21 fiscal year will grow 1.5%, and the World Bank estimates growth of 1.3%.
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