Share the article
twitter-iconcopy-link-iconprint-icon
share-icon
Asia-PacificJuly 1 2016

Putting Pakistan’s economy on the map

Although Pakistan's economy has not met all government targets, its macro fundamentals are strong and the China Pakistan Economic Corridor is generating a lot of optimism. Is this enough to attract more foreign direct investment into the country? Edward Russell-Walling reports.
Share the article
twitter-iconcopy-link-iconprint-icon
share-icon

In June 2016, when Pakistan’s finance minister Ishaq Dar presented his pre-budget Pakistan Economic Survey for financial year 2015-16, he had to acknowledge that several key targets had been missed. The Pakistani media, not known for its temperance, howled its displeasure. And yet the economic mood in the country is more positive than it has been for some time.

Certainly, the 4.7% headline gross domestic product (GDP) growth figure for the year ending June 2016, as estimated by the Pakistan Bureau of Statistics, fell short of the government's 5.5% target. One reason for that was the catastrophic failure of this year's all-important cotton crop, with production in Punjab reportedly down by 45%. Though wheat and sugar cane did well, the rice harvest was also poor. Consequently, agricultural output did not meet its 3.9% growth target but fell by 0.2%. 

To continue reading, join our community and benefit from

  • In-depth coverage across key markets
  • Comments from financial leaders and policymakers worldwide
  • Regional/country bank rankings and awards
Activate your free trial