Islamabad: Despite several internal and external challenges, the country’s Gross Domestic Product (GDP) recorded ten years highest growth of 5.3 percent during the outgoing fiscal year 2016-2017, Ishaq Dar.
Finance Minister Senator Ishaq Dar made this assertion while launching Pakistan Economic Survey for the outgoing fiscal year 2016-2017 on Thursday has said. “The growth rate was just 3 percent in 2013, which has now risen to 5.3 percent and this growth is also being acknowledged at the world level.”
He said that the overall size of country’s economy has crossed the threshold of $300 billion during the current year, which was a healthy sign.
Keeping in view the current growth rate, the GDP growth rate target for the upcoming year 2017-2018 has been fixed at 6 percent, the minister, said hoping that the target would not only be achieved but also exceeded.
He said that during the outgoing year (2016-17), the agriculture sector posted a growth of 3.5 per cent, which was a positive sign and attributed the growth to incentive package announced in the last budget to the farmers.
The minister said that policy rate has been reduced to 5.75 percent, which was at the lowest level in last 45 years.