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4.8% GDP growth expected: Asad Umar

Staff Report

ISLAMABAD: Federal Minister for Planning and Development Asad Umar said Friday Pakistan’s gross domestic product (GDP) growth was expected to hit 4.8% in the financial year 2021-2022.

Highlighting the achievements of the government during a press conference in Islamabad, Umar said in the nine months of the current fiscal year,  IT exports showed growth of 46%.

Umar said the country had “witnessed a strong growth” during the fiscal year, and it is expected that the remittances would shoot up from $21.7 billion to $29.1 billion till the year end — an increase of 34% in a year.

The federal minister said if we combine the 3.94% GDP growth and the increase in remittances, it will take the gross national product (GNP) growth to 6.5% — the “highest” GNP growth in the last 16 years.

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