Staff Report
ISLAMABAD: The federal government has set the gross domestic product (GDP) growth rate target at 2.3 percent for the next fiscal year.
According to details, the next year growth target for agriculture sector is being set at 2.9 percent with major crops contributing 2.2 percent of it. “The growth rate for cotton is being set at 1.3 percent,” showed the budget document as it predicted 3.5 percent growth rate for livestock sector in the next fiscal year.
The federal government predicted 1.5 percent growth rate for forest sector, 2.1 percent for fishing, 0.1 percent for industries and 0.5 percent for minerals sector. The budgetary document for the next fiscal year has forecast a negative 0.7 growth rate for manufacturing sector. The growth rate predicted for the energy and construction sector stand at 1.4 percent and 3.5 percent respectively as services sector is estimated to grow at the rate of 2.8 percent during the next fiscal year.
