ISLAMABAD: Federal Minister for Finance and Revenue, Shaukat Tarin, said Saturday that Pakistan witnessed a strong V-Shaped growth despite being in a tough International Monetary Fund (IMF) programme.
In a tweet here, the minister said that the IMF programme was necessitated by unsustainable current account deficit and falling foreign currency reserves, and a vicious Covid 19.
He expressed gratitude for Prime Minister Imran Khan and his team for achieving this growth.
“A strong V growth despite being in a tough IMF program, which was necessitated by unsustainable current account deficit and falling foreign currency reserves, and a vicious Covid 19. Well done team Imran Khan; Thumbs up @FinMinistryPak @GovtofPakistan,” he tweeted.
It is pertinent to mention here that the National Accounts Committee (NAC) on Friday had estimated that the provisional growth rate of Gross Domestic Product (GDP) during the current fiscal year (2020-2021) was 3.94 percent.
Due to a combination of GDP growth and strengthening of Pak rupee against the US dollar, per capita income of Pakistan jumped by 13.4 percent during the current fiscal year (2020-21) from $1361 to $1543.
The GDP increase from $263 billion to $296 billion, an increase of $33 billion during the current fiscal year, was the highest ever in any year.
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