Major macroeconomic indicators moving towards positive trajectory: CPEC Authority chief

Gwadar Pro

Islamabad: Chairman China-Pakistan Economic Corridor (CPEC) Authority Lt. General Asim Saleem Bajwa (retd) has said all the major macroeconomic indicators were moving towards positive trajectory due to immense hard work by the government and the ongoing CPEC projects.

“Not without an immense hard work, Pakistan’s economy performed beyond expectations with all major macroeconomic indicators showing positive trend amid Covid-19 pandemic,” he said in a statement.

Asim Bajwa said the hard work resulted in 3.94 percent economic growth during the outgoing fiscal year.

Earlier, the National Accounts Committee (NAC) estimated that the provisional growth rate of Gross Domestic Product (GDP) during the current fiscal year (2020-2021) was 3.94 percent.

Due to a combination of GDP growth and strengthening of Pak rupee against the US dollar, per capita income of Pakistan jumped by 13.4 percent during the current fiscal year (2020-21) from US $1361 to US $1543.

The GDP increase from US $263 billion to US $296 billion, an increase of $ 33 billion during the current fiscal year, was the highest ever in any year.