Economic Survey 2018/2019 to be launched June 10; GDP growth likely at 3.3 percent

ISLAMABAD: The ministry of finance will present Economic Survey for 2018/2019 on June 10 (Monday) under which the GDP growth may be announced to fall 3.3 percent against the target of 6.3 percent.

The government, however, set the economic growth at 4 percent for the next fiscal year.

The economic survey may show a slide in manufacturing sector growth by 0.3 percent. The government sets target of two percent for 2019/2020.

Large Scale Manufacturing (LSM) has shown negative growth of 2 percent in the ongoing fiscal year against target 8.1 percent. The LSM growth target has been set at 2.8 percent for next fiscal year.

Services sector growth fell by 4.7 percent against growth target of 6.5 percent in the fiscal year 2018/2019. Services sector likely to show growth of 4.8 percent in 2019/2020.

Construction sector exhibited negative trend, drop by 7.6 percent against the target of 10 percent for the current fiscal year. The growth target for construction sector has been set at 1.5 percent.

Agriculture sector growth remained flat at 0.8 percent against the target of 3.8 percent. However, the present government sets 2.9 percent growth target for the next fiscal year.

Main commodity recorded a slide of 6.5 percent. Main commodities production for 2019-20 set at 3.5 percent.

Other commodities output increased by 1.5 percent. In 2018-2019 target set 3.5 percent, for 2018/2019 target was 3.5 percent.

Cotton output has decreased by 12.7 percent against growth target of 8.9 percent. Cotton output target has been set at 3.1 percent in 2019/2020.

Livestock grew by 3 percent against target of 3.8 percent. Meanwhile, growth target for livestock for 2019-20 set at 2.5 percent.

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