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No targets achieved in FY 2011-12: Economic Survey
ISLAMABAD: Pakistan Economic Survey 2011-12 revealed that none of economic targets set by the government were achieved, Geo News reported.Finance Minister Dr Abdul Hafeez Shaikh would officially release the Survey on May 31. A copy of the Survey would be presented to Prime Minister Yousuf Raza Gilani on Thursday before its release.
Geo News is in possession of a copy of Economic Survey, which said all the growth targets of agriculture, industry and services sectors have been missed.
The economic growth remained at 3.7% despite a set target of 4.2%. The overall deficit stood at Rs8.94 trillion which was Rs7.71 trillion in FY 2011-12. Rs47 billion were spent on external debt financing this year as compared to Rs33 billion during July-March last year.
The trade deficit of the country surged exponentially, the Survey said. It said imports have escalated to $37 billion against the total exports of $19 billion.
Courtesy www.geo.tv