COVID-19: Pakistan’s GDP Growth Anticipated at 2% in the 2020/21 Fiscal Period

The Advisor to the Prime Minister of Pakistan on Finance and Revenue, Dr. Abdul Hafeez Shaikh, has stated that Pakistan’s economy would transform to witness a 2% growth in the gross domestic product (GDP) for next fiscal period 2020/21, despite projections of a negative 1.5% growth rate for the current fiscal year, due to the effects of the COVID-19 pandemic.

Speaking at an event organized by the Institute of Chartered Accountants of Pakistan, Dr. Shaikh added that previous projections of Pakistan’s GDP for the current fiscal period of around 3% was now projected to result in a contraction of 1%-1.5%, due to the adverse impacts of the on-going pandemic. The Advisor also mentioned that the fiscal deficit proje...