Key Indicators Imply Stabilization of Pakistan’s Economy 1Q FY2021: Finance Ministry

Pakistan's economy is likely to experience economic growth of 1.0% year-on-year (YoY) in the first quarter (July-September) of the current 2020-2021 fiscal year (FY2021), the Finance Ministry announced, adding that economic growth was expected to at least touch the 0.97% YoY growth levels of the previous fiscal cycle, 1Q FY2020.

With the Monthly Economic Indicator picking up pace marginally to 1.4% in July 2020 from 1.3% in June 2020, current economic, monetary, fiscal, and foreign exchange rate policies, together with and global economic forecasts all pointed towards expectations of an economic recovery.

The recession in the industrial sector had tempered out in recent months, a si...