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Ishaq Dar to unveil Economic Survey today

Ishaq Dar to unveil Economic Survey today
June 2, 2016
ISLAMABAD (92 News) – Finance Minister Ishaq Dar will today (Thursday) launch the Economic Survey for the financial year 2015-16. According to the important highlights economic survey, despite challenges, Pakistan’s economy is moving towards stabilization during the current fiscal year, while foreign exchange reserves have increased as a result of government reforms. The volume of foreign exchange reserves has been recorded at US $21. 237 billion, while the foreign exchange reserves in the same period last year was recorded at US $18.695. The inflation and fiscal deficit has decreased during the current fiscal year, while the country’s economic indicators show stability and continuous improvement. The national revenue has increased 20% during the current year, while the revenue volume of Federal Board of Revenue (FBR) during July-March was Rs 2103 billion The GDP growth remained 4.7 percent FY16. It is also a reason the government has scaled the GDP growth target to 5.7 percent from earlier projected target of 6.2 percent for FY17. Like the previous year, the government this year again failed to deliver on its investment and saving targets with wide margins. The Investment of GDP ratio slipped to 15.2 percent against the target of 17.7 percent. The saving remained static at 14.5 percent as compared to target of 16.8 percent of GDP for FY16.