Substantial growth reported by
Pakistan.
by MEDIA CONTACT RESOURCES, INC.
On June 2, 2007, the Pakistan Times (Islamabad), citing government
sources, said that for the fiscal year 2006-2007, Pakistan's
economy had expanded 7.0 percent. The newspaper said that this was the
fourth consecutive year of expansion.
International Monetary Fund (IMF) statistics provide an estimate of
Pakistan growth of 6.5 percent for calendar year 2007. The IMF says that
2008 growth will also be 6.5 percent.
The Times said that all sectors of the economy contributed to the
growth. Services grew at 8.0 percent, industry grew 6.8 percent, and
agriculture grew 5.0 percent.
Tax revenues were up 18 percent from July 2006 through April 2007.
Notably, remittances fro Pakistanis working abroad increased 22 percent.
Official statistics show that unemployment in Pakistan was reduced
to 6.2 percent, though some estimates are higher because of
underemployment. A government estimate of service sector growth for the
fiscal year 2007-2008 listed growth at 7.1 percent.
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