Pakistan sees 2.13pc growth in July-Sept quarter against 0.96pc year earlier
Pakistan’s profitable geography witnessed a growth of 2.13 percent in the July- September quarter, a notable increase from the 0.96 percent recorded during the matching quarter the former time, according to the Pakistan Bureau of Statistics( PBS).
This disclosure, bared on Tuesday, constitutes the initial release of daily gross domestic product ( GDP) data for the financial time 2023- 2024, concluding on June 30.
Pakistan sees 2.13 pc growth the preface of this daily GDP reporting has garnered blessing from the National Accounts Committee ( NAC), overseen by the Ministry of Planning, Development, and Special enterprise clerk.
This move is a significant structural benchmark in adherence to the ongoing $3 billion bailout agreement with the International Monetary Fund (IMF).
In a parallel adjustment, the PBS revised down the GDP figure for the concluded fiscal year 2022-2023, reporting a contraction of 0.17 percent as opposed to the previously provisionally reported 0.29 percent growth.
These GDP estimates have been expedited to align with the IMF structural benchmark under a stringent timeline, relying on the available information and data.
As part of the International Monetary Fund’s stand-by arrangement (SBA) structural benchmark, the PBS was obligated to Pakistan estimates for 2023-24, along with the revised annual estimates for 2022-23, by the end of November.
