ISLAMABAD – With GDP rate exceeded 4% (4.14%) in the financial year 2013-14 for the first time in six years, key economic indicators have shown positive signs of sustainable growth despite challenges on multiple fronts, mainly because of improved foreign exchange reserves and workers’ remittances.
Moreover, overseas workers’ remittances showed an impressive growth of 15.25% to $8.981 billion during the first half of current fiscal year (2014-15). The exports started showing positive growth in December 2014 as the same grew by 9.66% as compared to November 2014. Though the overall goods trade deficit increased, the same in services decreased by 23.84% during first five months of the current fiscal year.
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A considerable improvement has been witnessed in Large Scale Manufacturing (LSM) while inflation was recorded at a single digit, according to official data.
Economic experts say, “The economic growth has been possible due to political stability, good governance and the will of the nation to eliminate terrorism, as indicated by the ongoing Operation Zarb-e-Azb.” The key indicator of a well-performing economy is the stock market. The performance of Karachi Stock Exchange proves economic growth as its index has touched a historic level of 34,000 points.
