SBP anticipates 3pc economic growth in FY21

KARACHI: The State Bank of Pakistan (SBP) has remained optimistic about the 3pc economic growth in the Fiscal Year 2021 regardless of the Covid-19 pandemic.  

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Speaking on the occasion, Governor State Bank, Raza Baqir said that the economy of the country has shown positive signs in the third wave of the pandemic as compared to the week indicators in the first wave.

Shedding light on the economic indicators, the governor state bank highlighted that the Large Scale Manufacturing (LSM) sector grew by 9pc in January as compared to the negative growth of 5.7pc in the same period of last year.

The governor was also of the view that the overseas Pakistanis are investing in the Pakistan Stock Exchange (PSX) through Roshan Digital Accounts (RDA) which is a positive sign for the economy of the country.

The central bank has forecasted 4pc economic growth for the next fiscal year.

Earlier, the International Monetary Fund (IMF) had forecasted 1.5pc GDP growth of Pakistan which is half of the growth target of the central bank.


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