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GDP growth reaches 5.3% first time in 8 years, Survey

ISLAMABAD (RT-Web Desk) Federal Minister for Finance Ishaq Dar on Thursday has said that 5.3 percent growth has been witnessed in Gross Domestic Product (GDP) in fiscal year 2016-17.

While disclosing  the Pakistan economic survey in Islamabad, Ishaq Dar said that we have exceeds five percent growth rate in fiscal year 2016-17 while it is set at 6 percent for next year. He said the industrial sector contributed twenty one percent, agriculture twenty percent and services sixty percent to the GDP.

Giving a breakdown, Ishaq Dar said that agriculture growth remained 3.46 percent, services 5.98 and industries 5.02 percent. He said that six percent growth target has been set for the next financial year.

He said efforts are being made to further improve cotton production in order to domestically meet the demand of textile industry.

About the agriculture credit, he was confident that it will achieve the target of seven hundred billion dollars this year.

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