Business

Govt fails to meet targeted growth rate for third consecutive year

ISLAMABAD: The federal government failed to meet the targeted growth rate for the third time consecutively in its tenure, ARY News reported.

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The government had set a Gross Domestic Growth (GDP) growth rate of 5.5% but could not only achieve growth rate of 4.7%.

According to government data and statistics, the growth rate was low due to unsatisfactory performance of the agricultural sector.

It was also stated that the significant decrease in the production of cotton was a reason why the growth rate of the the agriculture sector was recorded at -0.19%.

The services sector gained 5.7% growth target in the current fiscal year.

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