The government of Pakistan presented the Economic Survey 2022-23 on Thursday. Business Recorder summarises the document through graphs.

The main indicator of any economy, the GDP growth rate, stood at a meagre 0.29%. This number stood at 6.1% in the previous fiscal year and the government had targeted to achieve 5%.

The agriculture sector, often termed the backbone of Pakistan’s economy, reported 1.6% growth against a target of 3.9%. This sector expanded 4.3% in fiscal year 2021-22. Unprecedented floods were cited as a reason behind the performance.

The industrial sector endured a lethal dent from the economic crisis as it contracted 2.94% compared to target of 7.4% growth. Last year, industries grew 6.83%.

The services industry reported a meagre growth of 0.9% against its target of 4% expansion.

Pakistan’s investment-to-GDP ratio dived to 13.6% in fiscal year 2022-23 from 15.7% in previous fiscal year. However, the savings-to-GDP ratio rose from 11.1% to 12.6% in the period under review, mainly due to higher interest rates.

The tax-to-GDP ratio plunged to 6.6% in 2022-23 against 10.1% in 2021-22.

The GDP per capita of the country also took a hit and fell from $1,765 in the previous year to $1,586 in the current fiscal year, largely due to the rupee’s poor performance against the US dollar.

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Tulukan Mairandi Jun 08, 2023 10:43pm
The country is doomed to default and for famine. While these numbers are not surprising, What's surprising is the establishment is actively supporting this failed regime. In the run up to these disastrous numbers (reality is much worse actually as these are made up numbers), PTI was deliberately crushed..
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