Asian Development Bank report about Economy of Pakistan
· GDP growth in Pakistan is projected at 4.2% in FY2015
· GDP growth in Pakistan is projected at 4.5% in FY2016
· Economy benefitted from low oil prices, Positive growth rate of economies at Global level.
· A strong revival in ‘construction’ and steady expansion in ‘manufacturing’ and services edged up growth in gross domestic product (GDP) to provisional 4.1% in Fiscal Year 2014 (ended 30 June 2014) from 3.7% in the previous year.
· Agriculture growth decelerated to 2.1% as a fall in the production of minor crops and slow growth in livestock offset rising output in most major crops.
· The projections assume steady progress in macroeconomic and structural reforms, manageable political and security challenges, and normal weather.
· Growth in FY2016 could be higher if economic reform proceeds at a faster pace.
· The government has made some progress in implementing macroeconomic and structural reforms to strengthen its fiscal position, alleviate energy shortages, and restructure and privatize loss-making public enterprises.
· However, overall progress remains slow in a challenging political and security environment.
"A JOURNEY OF A THOUSAND MILES BEGINS WITH A SINGLE STEP"