Economic Survey 2014-15: Ishaq Dar unveils country's economic report card

[wiqi21]

A day before announcing the budget for fiscal year 2014-15, the government is ready to reflect upon what it achieved during the last 12 months.

Unveiling the Economic Survey 2014-15, Finance Minister Ishaq Dar will highlight the missed and achieved targets of the government during the outgoing fiscal year that started on July 1, 2014 and will end on June 30, 2015.

The government missed the most important economic target – GDP growth – and hence, it was less surprising that other goals were missed as well. Failing to take full advantage of the fall in global crude prices and riding on loans and grants, the country was able to shore up its foreign currency reserves. However, the industrial sector, particularly the large-scale manufacturing sector, missed its target.

Read: Economy growth: Pakistan set to miss target for second year

Out of 23 key growth indicators, five hit the government’s targeted growth rates while 18 indicators, primarily in agriculture and industrial sectors, remained below expectations.

Agriculture growth stands at 2.9%

“The agriculture growth stood at 2.9% during July-March 2014-15 as compared to 2.7% during the last year,” the finance minister added.

GDP at 4.24%

While unveiling the Economic Survey, Finance Minister Ishaq Dar said, “ Global economic growth during the outgoing year has witnessed some continuing signs of improvement with a pick-up in high-income economies along with some improvement in developing countries.”

“Pakistan is improving quantitatively and qualitatively as growth achieved 4.24% is broad based and is the highest achievement since 2008-2009,” Dar said.

Economic Survey 2014-15: Ishaq Dar touts economic growth amidst missed targets - The Express Tribune

 

[The Great One]

A day before announcing the budget for fiscal year 2014-15, the government is ready to reflect upon what it achieved during the last 12 months.

Unveiling the Economic Survey 2014-15, Finance Minister Ishaq Dar will highlight the missed and achieved targets of the government during the outgoing fiscal year that started on July 1, 2014 and will end on June 30, 2015.

The government missed the most important economic target – GDP growth – and hence, it was less surprising that other goals were missed as well. Failing to take full advantage of the fall in global crude prices and riding on loans and grants, the country was able to shore up its foreign currency reserves. However, the industrial sector, particularly the large-scale manufacturing sector, missed its target.

Read: Economy growth: Pakistan set to miss target for second year

Out of 23 key growth indicators, five hit the government’s targeted growth rates while 18 indicators, primarily in agriculture and industrial sectors, remained below expectations.

Agriculture growth stands at 2.9%

“The agriculture growth stood at 2.9% during July-March 2014-15 as compared to 2.7% during the last year,” the finance minister added.

GDP at 4.24%

While unveiling the Economic Survey, Finance Minister Ishaq Dar said, “ Global economic growth during the outgoing year has witnessed some continuing signs of improvement with a pick-up in high-income economies along with some improvement in developing countries.”

“Pakistan is improving quantitatively and qualitatively as growth achieved 4.24% is broad based and is the highest achievement since 2008-2009,” Dar said.

Economic Survey 2014-15: Ishaq Dar touts economic growth amidst missed targets - The Express Tribune

How many jobs were added last year?

 

[Hyde]

I think if oil prices had not reduced we would have probably seen an average growth rate of below 4%.

This is not a very satisfactory performance by the government and another example of Poster League's more focus on being advertisements rather than impressive performance.

Overall not a singe province in Pakistan posted remarkable performance. Just an average year for Pakistan. I have strong reservations for Musharraf's intenal policies but may be it is not a bad idea to hire him and his aides for improving economy as we clearly see the brainpower of PML-N and previously PPP cannot deliver good performance

 

[wiqi21]

How many jobs were added last year?

Unemployment increased by 4 percent in last 2 years.

 

[The Great One]

I think if oil prices had not reduced we would have probably seen an average growth rate of below 4%.

This is not a very satisfactory performance by the government and another example of Poster League's more focus on being advertisements rather than impressive performance.

Overall not a singe province in Pakistan posted remarkable performance. Just an average year for Pakistan. I have strong reservations for Musharraf's intenal policies but may be it is not a bad idea to hire him and his aides for improving economy as we clearly see the brainpower of PML-N and previously PPP cannot deliver good performance

Using Mushy era growth figures would be highly misleading. That was the era of liquidity and easy money flowing out from developed countries. We were then governed by the same Congis which was in alliance with the Commies and we saw nearly 10% growth Not to mention Pakistan didn't have that severe of an image problem as it does now. If Mushy did do some real reform then its effects would be visible after he left.

Unemployment increased by 4 percent in last 2 years.

But that doesn't tell about the number of employables does it. I want to know the number of jobs added by this 4% growth.