ISLAMABAD: The State Bank of Pakistan (SBP) Thursday reported that though some sectors did not show good performance, however, the country’s overall economy performed satisfactory during the current calendar year 2015.
Responding to calling attention notice regarding the weaknesses in the economy of Pakistan as pointed out by SBP, Parliamentary Secretary Finance, Rana Afzal told the National Assembly that the report had been both critical and supportive of economic performance of the country.
“While emerging economies are facing slower economic growth, Pakistan’s economy did reasonably well in FY15. 1 GDP growth posted a marginal increase over last year, whereas key macroeconomic indicators, like inflation, fiscal balance and current account balance, recorded improvements,” Rana said while quoting SBP report.
He said that several economic indicators had witnessed positive growth as remittances and foreign exchange reserves had gone up and there had been increase in foreign financial assistance and inflation was under controlled. He said that several sectors of economy including agriculture sector had performed positively.
To a question on the per-capita debt, the Parliamentary Secretary said that the per capita income had increased from $1333 in 2013 to $1384 in 2014 and to $1500 in 2015. To a question, he said that it had been the commitment of the Finance Ministry to reduce debt to GDP ratio and bring it to the required level. To a question, Afzal said that the government had passed on the relief of declining oil prices in the international market to the people.
