Pakistan’s budget to target growth recovery
Pakistan will target growth of 2.3 per cent in fiscal year 2020-21, according to government officials and documents seen by Reuters that said the economic landscape would depend mainly on the country's ability to control the coronavirus pandemic.
Prime Minister Imran Khan's government is set to present its 2020-21 budget on Friday, in a parliamentary session that only 25 per cent of lawmakers will attend due to pandemic restrictions.
"The GDP growth for 2020-21 is targeted at 2.3 percent with contributions from agriculture (2.9 percent), industry (0.1 percent) and services (2.8 percent)," a planning commission working paper seen by Reuters said.
That forecast is much rosier than the 0.2 per cent contraction in 2020-21 projected by the World Bank earlier in June. The multilateral lender sees growth of -2.6 per cent this fiscal year, ending June 30, while the government expects a 0.4 per cent contraction.
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