GDP growth targeted at 6% for fiscal 2017-18: Ishaq Dar | Pakistan

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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.

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