ISLAMABAD, Jun 11 (APP):Adviser to Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh on Thursday launched Economic Survey of Pakistan 2019-20.
Following are the highlights of survey:
** Provisional GDP growth estimated negative 0.38%
** Agriculture sector grew by 2.67%
** Cotton production reduced 6.9%
** wheat production grew by 2.5%
** Rice production increased by 2.9%
** Sugarcane production reduced by 0.4%
** Industrial sector grew by 2.64%
** LSM sector growth decreased by 5.4%
** Fertilizers production grew by 5.81%
** Leather products increased 4.96%
** Rubber products increased by 4.31%
** Auto mobile production decreased by 36.50%
** Wood products decreased by 22.11%
** Coke and petroleum products decreased by 17.46%
** Mining and quarry sector decreased by 8.82%
** Fiscal deficit increased to 9.1%
** Total Expenditures increased by 15.8%
** Total revenues increased by 30.9%
** Current expenditure increased by 16.9%
** Development expenditure increased by 14.2%
** Non-Tax revenues increased 159.9%
** Direct tax collection increased by 14.1%
** Provisional government revenues increased by 12.2%
** SBP reduced policy rate by cumulative 525 bps
** NFA of banking sector increased by Rs 893.7 billion
** NDA of banking registered expansion of Rs587.6 billion
** Net govt borrowing increased Rs911.7 billion
** Govt borrowing for budgetary support increased by Rs1023.9 billion
** KSE-100 index registered modest growth of 0.61%
** Headlines inflation (CPI) averaged at 10.9% during Jul-May
** Urban food inflation recorded at 13.6%
** Rural food inflation recorded at 16.0%
** Whole Sale Price Index recorded increased by 11.1%
** Sensitive Price Index recorded an increase of 14.0 %
** Exports decreased by 3.9% in Jul-April
** Imports reduced by 16.2% in Jul-April
** Trade deficit contracted by 29.5%
** Remittances increased by 5.5%
** Net FDI increased by 126.8%
** Foreign exchange reserves till end April 2020 stood at $18.7 billion
** Average exchange rate remained Rs157.1 to a Dollar
** Eduction enrollment increased by 7.1%
** Number of teachers increased to 1.83 million
** Estimated population growth and fertility rate is 1.94 per annum
and 3.3 children per women
** Rs456 million disbursed under Kamyab Jawan Scheme