Home > The Pakistan government’s reforms improved economic conditions, Asian Bank

The Pakistan government’s reforms improved economic conditions, Asian Bank

The Pakistan government's reforms improved economic conditions, Asian Bank

The Asian Development Bank has said that the Pakistan government introduced economic reforms over the past year as a result of improved economic conditions.

Increase growth, reduce the budget deficit, foreign exchange reserves and stabilize the positive impact on the value of the rupee, the issuance of Euro bonds increased policy credibility, the government’s economic agenda in 2015, satisfactory progress expected.

AsianĀ Development Bank released its latest report, out of the Asian Development Outlook 2014 Update ‘Pakistan to reduce the rate of growth in recent years, chronic power shortages and massive fiscal and external imbalances suffered was to remove the power supply integrated national commitment will be required for several years. While more and structural reforms for inclusive growth will also be required. GDP growth rate in 2014 was 4.1 percent, which was 3.7 percent last year. While the year ended 30 June 2014, during the evaluation of the estimated 3.4 percent.

GDP growth rate was due to improvements in industrial production, 4% of the large-scale manufacturing and 3.7% improvement in power supply that the government was possible because of circular debt, the large-scale Manufacturing sector growth, fertilizers, electronics, chemicals and leather products is a reflection of the increase.

Agricultural growth, such as lentils and potato crops in small areas with bad weather in livestock due to weak growth of 2.9 per cent and 2.1 per cent came. The government’s efforts budget deficit of 5.5 percent was the last 3 years, an average of 8%, the Euro Bond successful issuance and transactions of foreign exchange reserves by June 2014 to 9.1 billion increase, the Pakistani rupee was strengthened in 2014 to $ 97.5 million and has remained stable until the end of the financial year.

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