SBP Governor disappointed with low GDP growth in Pakistan

By: News Desk      Published: 06:01 PM, 13 Aug, 2021
SBP Governor disappointed with low GDP growth in Pakistan

State Bank of Pakistan (SBP) Governor Raza Baqir Friday showed his disappointment over the low ratio of the Gross Domestic Product (GDP) growth in the country.   

According to the 24News HD TV channel, the SBP governor holding a press conference on Friday said that the GDP growth of Pakistan was not what it should be.

Anyhow, he expressed gladness for a significant increase of foreign exchange reserves after receiving US$2.77 billion from the International Monitory Fund (IMF).

The SBP governor emphasizing the need for foreign exchange for the country said the first phase of economic stabilization was completed very well.

He said that the positive indicators were being found in different sectors especially in the cement, and automobile sectors.

The SBP governor said no one goes to the IMF to get a loan happily, they went to it only under duress.

About the Current Account Deficit, Raza Baqir predicted that it was expected to remain between two to three percent of the GDP this fiscal year 2021-22.

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