ISLAMABAD: Finance Minister Ishaq Dar on Tuesday said that target for GDP growth for fiscal 2017-18 has been set at 6 percent, adding that the current GDP growth is a t 10-year high.
Addressing budget debate in the national assembly, Dar said that economic growth for the upcoming fiscal year is projected at 7%.
“The road to prosperity will continue,” said the finance minister.
Per capita income and quality of life will also improve, Dar added.
The Pakistan Muslim League – Nawaz (PML-N) government on May 26 had presented its fifth budget before general elections in 2018, earmarking a total of Rs 4,757 billion in expenditures for the next fiscal year.
Dar had informed that inflation will be kept under 6% and budget deficit is projected at 4.1%. A 10% increase in pensions and salaries of government employees was also announced.
“Tax to GDP ratio, which was 10.1% in fiscal year 2012-13, is likely to increase to 13.2% this year,” Dar had said, adding the government was targeting tax to GDP ratio of 13.7% in the year 2017-18.