Double-counting: GDP overestimated, may be slashed by 10%

[TopCat]

I think the mistakes were deliberate.

 

[haviZsultan]

Looks like we Pakistanis were fooled again. They showed extra growth and development. A higher GDP than what it actually was. Amazing what these people can do.

 

[somebozo]

I am dead sure even the figure of 19 trillion is false..the net economic growth has been negative throughout zardari tenure. Have a lok around and see how many people who were middle class during Mushraff time have now become lower class. Poverty has over all increased but the shameless government is playing numeric manipulation game to ensure a next term.

 

[Nothing]

WTF....
Fire all those so called managers, who were in charge of this..
Somebody definitely cooked up those figures.. Can't believe some same educated person on nominal government payroll can do this.. some big MoFo is in charge of this blunder...
on light side .. where Pakistan's (sorry entire South Asia's ) internet financial minister Mr. Riaz Haq .. he might having heart attack ..

 

[rubyjackass]

Haha this has a become fashion now.

Same thing happened with Indian govt. though on a smaller scale and now Pak govt has goofed up that too on a bigger scale.

Politicians find new ways to fool the public.

When was this?
I read somewhere about claims that India GDP is still wrongly reported. It has to be corrected right now when things are better. Anyone know of reports on Indian GDP?

 

[Baby Leone]

this idiotic journalist make a new story to gain some ratings...

 

[Zeeshan360]

When was this?
I read somewhere about claims that India GDP is still wrongly reported. It has to be corrected right now when things are better. Anyone know of reports on Indian GDP?

Industrial production was reported wrong
It has already been corrected ..
It was wrong for just one quarter

It was no where near the scale of Pakistan's 10% over estimation that too for years

 

[Nothing]

Looks like fake news .. there is no reporting any more

 

[Haseebullah]

Blame Musharraf here. The error in GDP has been going on from around 10 years as said in the report. I guess Musharraf's era of economic success was cooked up by him, by double counting some services and goods.

A possibility there, what do you think?

On ground situation speaks louder than some digits on the paper so we all know that mush's era was way better.Like way way better.

 

[SMC]

Looks like fake news .. there is no reporting any more

You don't say? The bharatis seem to have escaped from this thread. Look at how happy they were. If this were true, there'd be way more reporting on htis.

 

[Roybot]

^^

Controversial GDP number to undergo scrutiny – The Express Tribune

 

[SMC]

^ Did you actually read the article?

 

[Roybot]

^ Did you actually read the article?

Yes I did, both news are related. Looks like you didn't, or didn't get it even after reading.

Pakistan Bureau of Statistics’ (PBS) move to shift the base year for calculation of the economy, from fiscal 1999-00 to 2005-06, has created ripples in the power corridors as the exercise has not only resulted into revision of last five years all major economic indicators but also caused decreased the size of the economy by Rs2.5 trillion.

Pakistan will obviously try to keep it all hush hush, but these sorta things are pretty hard to hide. 20 Billion USD is no small amount.

 

[MilSpec]

The revision actually brings good accountability to the finance ministry. Good step in long term!