ISLAMABAD: Minister for Planning and Development Ahsan Iqbal and Advisor to the Prime Minister on Finance Miftah Ismail have revealed the Economic Survey of the current fiscal year 2017-18 in a press conference on Thursday, AajNews reported.
Ahsan Iqbal said that the country’s gross domestic product (GDP) grew at a rate of 5.8 per cent over the past year.
The GDP would have crossed 6 per cent without political turmoil, he added.
He said that we started military based operation, operation Radd-ul-Fasad, using our own resources that helped in bringing peace and stability to the country.
The federal minister said that government has added 11000 mega watt to the National grid and constructed 1750 kilo meters motor way in five years.
Talking to the news conference, Adviser to Prime Minister on Finance, Miftah Ismail said that the current growth in economy is the highest growth in last 13 years.
He said that the industrial sector grew at the rate of 6.4 per cent, agricultural sector at the rate of 3.8 per cent and manufacturing sector grew at the rate of 5.8 per cent.
He said current budget deficit is 5.5 percent.
He said inflation rate remained low during the tenure of PML-N government and at present it stands at 3.8 percent, which is expected to remain under 4.5 percent by the end of current financial year.
The Advisor said FBR revenue is expected to be 3935 billion rupees, which will be 11.1 percent of GDP.
He said net public debt was 60.2 percent when the PML-N government came to power and it will be 61.4 percent by the end of the current fiscal year.
He said external debt was 21.4 percent of GDP and now it will be 20.5 percent.
He said exports have also started improving since this year, and in March exports increased by 13 percent.