Govt sets GDP growth target at 3.5% for FY24

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ISLAMABAD
The government on Friday set the Gross Domestic Product (GDP) growth target for the fiscal year 2023-24 at 3.5 percent, with sectoral growth of 3.5 percent in agriculture; 3.4 percent in industrial; and 3.6 percent in services. This was informed in the meeting of Annual Plan Coordination Committee (APCC) chaired by Minister for Planning, Development and Special Initiatives Ahsan Iqbal here, said a press release. The chief economist presented an economic outlook for 2023-24 in the meeting, saying that it shall result in an orderly rebalancing between the economic growth, and current and fiscal account balances.

However, he also raised caution about the global slowdown, increased interest in developed countries, and elevated commodity prices that may hinder the economic plans.