GDP to grow 7 percent by 2018-19 : Dar

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ISLAMABAD, Jun 4 (APP): Finance Minister, Senator Muhammad Ishaq Dar, highlighting Medium Term Goals (2016-19), on Saturday said that the Gross Domestic Product (GDP) growth would gradually rise to 7 percent by Fiscal Year 2018-19.

Addressing the post-budget press conference, the minister said that inflation would be contained at single digit.

He said that the investment-to-GDP would rise up to 21 at the end of medium term, adding that currently this ratio stands at 15.6 percent of GDP.

The minister said that the fiscal deficit would be brought down to 3.5% of GDP while the tax-to-GDP ratio will be increased to 13.9 percent.

The minister expressed the hope that foreign exchange reserves would reach to $30 billion.