Economic Survey 2011-2012: None of govt.’s economic targets achieved

Economic Survey 2011-2012: None of govt.’s economic targets achieved

Islamabad: (Tuesday, May 29, 2012) Economic Survey of Pakistan 2011-2012 revealed that none of the economic targets set by the PPP led coalition government could be achieved.

The survey will officially be released by the ministry of finance on May 31. Before its release, a copy of the survey will be presented to the Prime Minister Yousuf Raza Gilani on Thursday.

Reviews of the unofficially released copies of the Economic Survey reveal that none of the targets with regard to agriculture, industry and services sectors could be achieved this year.

According to this official document compiled and published by the government, the economic growth during this one year remained at 3.7 percent while a conservative target set by government for the year stood at 4.2 per cent. The
overall deficit stood at 8.94 trillion in comparison to the envisaged figure of 7.71 trillion in FY 2011-2012. As compared to the set target of 33 billion to be spent upon external financing during July-March last year, the govt. ended up spending 47 billion
rupees.

Meanwhile, the trade deficit of the country has surged exponentially. The total import bill has escalated to $37 billion against the total exports of $ 19 billion.

The budget for FY 2012-13 is expected to be presented by the government on June 1^st before the National Assembly.

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Posted by Fayyaz Yaseen on May 30 2012. Filed under Business, Pakistan. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry