Highlights of Pakistan Economic Survey 2021-22

Pakistan government has unveiled economic survey for the year 2021-2022. Following are the key highlights.

• The real GDP posted a growth of 5.97 percent.
• For July-April FY2022, the current account deficit remained US$13.8 billion against the deficit of US$0.5 billion.
• The investment to GDP ratio remained 15.1 percent compared to 14.6 percent recorded in FY2021.
• The agriculture sector posted growth of 4.4 percent
•  Industrial sector recorded a growth of 7.2 percent in FY2022 compared to 7.8 percent growth in FY2021.
• Total revenues increased by 17.7 percent and reached Rs 5,874.2 billion
• Total tax collection (Federal & Provincial) grew by 28.1 percent
• Non-tax revenues, on the other hand, fell 14.3 percent to Rs 1,052.2 billion in July-March FY2022
• Total expenditures grew by 27.0 percent to reach Rs 8,439.8 billion in July-March FY2022 against Rs 6,644.6 billion last year.
•  Current expenditures grew by 21.2 percent to Rs 7,378.0 billion during July-March FY2022 as compared to Rs 6,085.4 billion in the comparable period of last year.
• Total development expenditure increased significantly by 54.6 percent to Rs 1,032.7 billion in July-March FY2022
• The federal PSDP grew by 28.1 percent to Rs 452.3 billion during July-March FY2022 against Rs 353.0 billion last year.
• FBR tax collection during July-May FY2022 increased by 28.4 percent
• During July-March FY2022, all the four provinces posted a combined surplus of Rs 599.8 billion
• The fiscal deficit increased to 3.8 percent of GDP (Rs 2,565.6 billion) during July-March FY2022 against 3.0 percent of GDP (Rs 1,652.0 billion) in the same period of last year.
• The primary balance posted a deficit of Rs 447.2 billion against the surplus of Rs 451.8 billion during the period under review.
• The headline inflation CPI averaged at 11.3 percent during July-May FY2022 against 8.8 percent in the comparable period last year.
• Trade deficit increased by 49.6 percent in July-April FY2022 to US$ 32.9 billion as compared to US$ 22.0 billion in the corresponding period last year