ISLAMABAD: On Thursday (tomorrow), the federal government will release the Economic Survey of Pakistan 2022-23, a pre-budget document detailing important socio-economic achievements from the outgoing fiscal year.
According to the Finance Ministry, Ishaq Dar will preside over the pre-budget paper launch.
Moreover, The document will cover major socio-economic developments, performance, and economic trends in agriculture, manufacturing and industry, services, energy, information technology and telecom, capital markets, health, education, transport, and communication.
The poll will also include annual inflation, trade and payments, governmental debt, population, employment, climate change, and social protection developments.
The Planning Commission forecast 0.29% GDP growth for 2022-23 in the 106th National Accounts Committee (NAC) meeting.
Agriculture, industry, and services grew 1.55%, -2.94%, and 0.86%, respectively.
Cotton output fell 41% from 8.33 million to 4.91 million bales and rice production fell 21.5% from 9.32 million to 7.32 million tonnes, lowering the preliminary growth in major crops to -3.20%.
Wheat, sugarcane, and maize all increased by 5.4%, 2.8%, and 6.9%, respectively.
Provisional industrial growth is -2.94%. Due to falling natural gas, crude oil, and exploration costs, mining and quarrying growth is -4.41%.
The energy, gas, and water industries grew 6.03%, while the quantum index of large-scale manufacturing (QIM) recorded a 7.98% decline.
Services sector preliminary growth of 0.86%, although industry trends vary. Crops (4.57%), LSM (8.11%), and imports (12.68%) decreased, lowering wholesale and retail trade by 4.46%.
Public sector spending increased education by 10.44%. Human health and social work activities grew 8.49%.
