Finance Minister to Unveil National Economic Survey 2024-25 Tomorrow
News Desk
Islamabad: The Ministry of Finance is set to officially release the National Economic Survey for the fiscal year 2024-25 tomorrow, highlighting the country’s economic performance amid mixed outcomes.
According to sources cited by 24NewsHD TV channel, the official launch event will take place at 2:30 pm, where Finance Minister Muhammad Aurangzeb will present key statistics and trends and address questions from the media.
The survey reveals that Pakistan fell short of most of its economic targets this year, including the overall GDP growth rate and key sector benchmarks. The country’s economy grew at 2.68 percent, below the target of 3.6 percent, with the GDP size reaching $410.96 billion — a $39.3 billion increase from the previous year. Per capita income rose by $144, totaling $1,680 annually.
In local currency terms, the economy expanded from Rs. 9,600 billion to Rs. 114.7 trillion. However, growth in the agricultural sector was limited to 0.56 percent, missing the 2 percent goal. Major crops production declined by 13.5 percent overall, with cotton production falling sharply by 30.7 percent to 7.08 million bales. Other crops also faced reductions, including corn (down 15.4 percent), wheat (8.91 percent), sugarcane (3.88 percent), rice (1.38 percent), and pulses (14.2 percent).
Conversely, the production of other crops rose by 4.8 percent, with notable increases in vegetables (7.8 percent), fruits (4.1 percent), oilseeds (29.8 percent), and spices (9.7 percent). The livestock sector showed promising growth, expanding from 4.4 percent to 4.7 percent, accompanied by a 3.77 percent increase in livestock population.
The industrial sector exceeded expectations with 4.77 percent growth, surpassing its 4.4 percent target, while the productive sector overall grew by only 1.34 percent, falling short of the 4.4 percent objective. Large-scale manufacturing contracted by 1.53 percent, though small-scale industries flourished with an 8.81 percent growth rate. Other sub-sectors such as slaughtering expanded by 6.34 percent, and electricity, gas, and water supply experienced a robust 28.88 percent increase.
Other sectors lagged behind their targets, with cotton ginning declining 19 percent (against a 2.3 percent negative target), forestry growing 3.03 percent (just under the 3.2 percent goal), and fisheries increasing modestly by 1.42 percent, below the 3.1 percent target.
The Finance Minister’s detailed presentation is expected to provide further insights into these trends and the government’s plans moving forward.
