Finance Minister Muhammad Aurangzeb unveiled the Pakistan Economic Survey 2024-25 on Tuesday, recapping the annual report on the country’s economic progress for the outgoing financial year.
Pakistan missed its GDP growth target of 3.6% in the outgoing fiscal year, posting a figure of 2.7%, revealed the Economic Survey 2024-25.
According to the provisional figures provided by the survey, Pakistan’s agriculture sector, industries and services sector registered subdued growth of 0.56%, 4.77% and 2.91%, respectively, during the outgoing fiscal year.
Commenting on the global economy, Aurangzeb noted that the global GDP growth in 2023 stood at 3.5%, which was reduced to 3.3% in 2024 and is now projected to be 2.8% according to the latest estimates.
Business Recorder presents major highlights of the document that is mostly based on July-March/April of FY25 figures.
Pakistan’s economy (gross domestic product/GDP) increased by 2.68% to $411 billion in FY25 compared to 2.51% in FY24.
Among the three main drivers of the GDP; services sector (58.4% of GDP) expanded 2.91%, agriculture sector grew 0.56%, and industrial sector rose 4.77%.
Pakistan’s GDP growth projected at 5.7% over the medium term.
Per capita income rose 9.75%, or $162, to $1,824 in FY25 compared to $1,662 in FY24.
Primary surplus hit historic high of 3% of GDP for July-March FY25.
Investment-to-GDP ratio improved to 13.8% in FY25 compared to 13.1% in FY24.
Consumer Price Index (CPI) inflation decreased to 4.7% during July-April FY2025, down from 26.0% in the same period last year.
KIBOR rate declined by 9.7-percentage points in one year, reducing to 11.3% at present.
Average exchange rate stood at Rs278.75/$ so far in FY25.
Private investment grew 9.9% in FY25.
Public investment, including general government development spending, rose 34.2%.
National saving improved to 14.1% of GDP, reflecting stronger domestic resource mobilisation.
