Highlights of Economic Survey

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Following are the highlights of Economic Survey of Pakistan 2021-22 launched by Federal Minister for Finance Miftah Ismail on Thursday:

– The real GDP posted a growth of 5.97pc

– For July-April FY2022, the current account deficit remained $13.8 billion against the deficit of $0.5 billion last year

– Investment to GDP ratio remained 15.1pc compared to 14.6pc recorded in FY2021.

– The agriculture sector posted growth of 4.4pc mainly due to 6.6pc growth in crops and 3.3pc growth in livestock.

– Industrial sector recorded a growth of 7.2pc in FY2022 compared to 7.8pc growth in FY2021.

– Services sector still constitutes the largest share of 58pc in GDP

– Large Scale Manufacturing (LSM) growth during July-March FY2022 increased by 10.4pc as compared to 4.2pc growth in the same period last year.

– Total revenues increased by 17.7pc and reached Rs 5,874.2 billion (8.8pc of in July-March FY2022 against Rs 4,992.6 billion (8.9pc of GDP) last year.

– Total tax collection (Federal & Provincial) grew by 28.1pc to reach Rs 4,821.9 billion during July-March FY2022 as compared to Rs 3,765.0 billion in the comparable period of last year.

– Non-tax revenues, on the other hand, fell 14.3pc to Rs 1,052.2 billion in July-March FY2022, compared to Rs 1,227.6 billion in the same period the previous year.

– Total expenditures grew by 27.0pc to reach Rs 8,439.8 billion in July-March FY2022 against Rs 6,644.6 billion last year.

– Current expenditures grew by 21.2pc to Rs 7,378.0 billion during July-March FY2022 as compared to Rs 6,085.4 billion in the comparable period of last year.

– Total development expenditure increased significantly by 54.6pc to Rs 1,032.7 billion in July-March FY2022 against Rs 668.0 billion in the comparable period of last year.

– The federal PSDP grew by 28.1pc to Rs 452.3 billion during July-March FY2022 against Rs 353.0 billion last year.

– FBR tax collection during July-May FY2022 increased by 28.4pc to Rs 5,348.2 billion against Rs 4,164.3 billion last year.

– During July-March FY2022, all the four provinces posted a combined surplus of Rs 599.8 billion against Rs 412.7 billion in the same period of last year.

– The fiscal deficit increased to 3.8pc of GDP (Rs 2,565.6 billion) during July-March FY2022 against 3.0pc of GDP (Rs 1,652.0 billion) in the same period of last year.

– The primary balance posted a deficit of Rs 447.2 billion against the surplus of Rs 451.8 billion during the period under review.

– During the period 1st July-20th May FY2022, the Net Domestic Assets (NDA) of the banking system witnessed an expansion of Rs 3,075.2 billion as compared to an expansion of Rs 645.7 billion during the comparable period last year.

 

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