News
Friday, June 03, 2011
Per capita income rises to $1254
ISLAMABAD: Pakistan’s per capita income rose to $1,254 in 2010-11 from $1,073 during last year, showing tremendous increase of 16.9 percent, according to the Economic Survey of Pakistan. Enhancement in per capita income is mainly because of stable exchange rate as well as higher growth in nominal gross national product (GNP). Per capita real income has risen by 0.7 percent in 2010-11 against last year’s 2.9 percent. Real private consumption rose by 7 percent as against 4 percent attained last year, it added. However, gross fixed capital formation lost its strong growth momentum and real fixed investment growth contracted by 0.4 percent as against the contraction of 6.1 percent last year. Total investment has declined from 22.5 percent of GDP in 2006-07 to 13.4 percent of GDP in 2010-11. National savings rate has decreased to 13.8 percent of GDP in 2010-11 against last year’s 15.4 percent of GDP. Domestic savings also declined substantially from 16.3 percent of GDP in 2005-06 to 9.5 percent of GDP in 2010-11. The national budget for the fiscal year 2011-12 would be unveiled today (Friday). app
Courtesy www.dailytimes.com.pk