Business

Pakistan estimates provisional GDP growth for FY 2020/21 at 3.94per cent

Pakistan on Friday estimated provisional GDP growth for the 2020/21 financial year at 3.94per cent, almost double the IMF and World Bank's forecasts, the planning ministry said.

A shopkeeper speaks with a customer while selling dry fruits and general items at the retail market
FILE PHOTO: A shopkeeper speaks with a customer (not pictured) while selling dry fruits and general items at the retail market, as the outbreak of the coronavirus disease (COVID-19) continues, in Karachi, Pakistan June 11, 2020. REUTERS/Akhtar Soomro

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ISLAMABAD: Pakistan on Friday estimated provisional GDP growth for the 2020/21 financial year at 3.94per cent, almost double the IMF and World Bank's forecasts, the planning ministry said.

"The provisional growth of GDP for the year 2020-21 has been estimated at 3.94per cent which is based upon growth estimates of the agricultural, industrial, and services sectors," the ministry said in a statement.

The IMF has estimated GDP at 1.5per cent, and World Bank at 1.3per cent.

(Reporting by Asif Shahzad; Editing by Andrew Heavens)

Source: Reuters