Finance Minister promises economic growth beyond forecast 4pc
- By Web Desk -
- Apr 06, 2021
ISLAMABAD: The newly-appointed federal finance minister Hammad Azhar said Tuesday the national economy will grow sustainably and beyond the anticipated figures and forecasts, ARY News reported.
In a set of tweets posted later today, the federal minister said the economy will “grow at a faster rate than earlier forecasts”.
Pakistan’s economy will this year grow at a faster rate than earlier forecasts.
Starting from next fiscal year, we will be targeting an even higher growth rate that may exceed 4% per annum.
This growth will not be based on deficits or depleting reserves but will be sustainable
— Hammad Azhar (@Hammad_Azhar) April 6, 2021
Azhar further claimed, “Starting from next fiscal year, we will be targeting an even higher growth rate that may exceed 4% per annum.”
“This growth will not be based on deficits or depleting reserves but will be sustainable.”
He added in a thread of tweets that this year “we are seeing a healthy growth in revenues”.
We are confident of achieving our targets, Azhar asserted.
This year we are seeing a healthy growth in revenues & are confident of achieving our targets.
Whilst we will continue to crack down on tax evasion, we will treat tax broadening as a real priority and not just a cliche. Solid programs will be devised for this objective.
— Hammad Azhar (@Hammad_Azhar) April 6, 2021
He said the country’s policy will be to continue to curb tax evasion and the priority will be to broaden the tax base.
READ: IMF forecasts 4pc GDP growth for Pakistan in 2022
It’s not just a clichéd statement, he asserted.
“Solid programs will be devised for this objective.”
It may be noted that the International Monetary Fund (IMF) has forecast a four percent Gross Domestic Product (GDP) growth for Pakistan in 2022.
In its World Economic Outlook report – released at the start of the IMF’s and World Bank’s spring meetings- the international body shared that the GDP growth for Pakistan remained at negative (-)0.4 percent during 2020.