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Site update: May 26 2017, at 18:30 PKST
Stock update: May 26 2017.

Recent Financial News in the 'economic-indicators' category

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Friday, May 26 2017

Asia’s best-performing market gives finance minister something to be proud of
KARACHI: If there was one thing Finance Minister Ishaq Dar could confidently talk about during his press conference on Thursday, it was the country’s stock market. With the Pakistan Stock Exchange (PSX) set to be upgraded into MSCI’s Emerging Markets Index come June 1, Dar mentioned how it outperformed all its peers in Asia in calendar year 2016; becoming Asia’s best and the world’s fifth-best performing market. The KSE-100 Index, a benchmark for market performance, has also soared 40% in the current fiscal year to date, as stocks attracted the available liquidity in the economy.
Related news categories: business economic-indicators ise kse lse misc psx stock-exchanges

Missed economic targets become cause for concern
LAHORE: Twin deficits, concerns over balance of payments, weak export capacity, low savings and investments, and a fragile macro economy have been the key highlights from this year’s economic survey, stated the Institute for Policy Reforms (IPR). Finance Minister Ishaq Dar unveiled the Economic Survey 2016-17 on Thursday, boasting that Pakistan had posted its highest GDP growth of 5.3% in a decade, and the size of the economy would become larger than that of Canada, Italy and South Korea’s by 2050. PML-N will not need another IMF bailout, says Dar But many critics believe that beneath this narrative lay a story of lack of reforms, overreliance on borrowing, and a persistent lack of competitiveness.
Related news categories: business economic-indicators misc

PML-N will not need another IMF bailout, says Dar
Finance Minister Ishaq Dar sounded a confident man as he announced Pakistan’s Gross Domestic Product (GDP) grew 5.28% in fiscal year 2016-17 (FY17), against a target of 5.7%, adding that the government had managed to reduce the fiscal deficit to 4.2%. “This year, the deficit would amount to 4.2%,” said Dar as he formally launched the Economic Survey 2016-17 on Thursday.
Related news categories: business economic-indicators misc

Agriculture posts highest growth in 5 years
KARACHI: The agriculture sector has posted a growth of 3.46% – highest in the last five years – in fiscal year 2016-17, which greatly helped the government in achieving overall economic growth of 5.3%. After an embarrassing slowdown in agriculture growth (0.27%) in 2016, the government decided to incentivise the sector through different schemes and the effort paid off this year. The agriculture sector met its growth target of 3.5% mainly due to the increase in disbursement of agriculture credit in 2016-17. During July to March 2016-17, the disbursement was observed to be 23% higher compared to the previous year.
Related news categories: business economic-indicators misc

Construction sector records impressive 9% expansion
KARACHI: The construction sector has once again posted a strong growth of 9% in the outgoing year, lower than the 14.6% increase in 2016, but much higher than the average growth of the past five years, according to the Pakistan Economic Survey 2016-2017. Excluding the exceptional growth of 2016 and 2017, the average growth in the construction sector up to 2015, since FY12, was just 4%. Construction industry officials believe the recent growth is encouraging for the industry as well as the country because this will create new jobs. According to government estimates, construction-related activities will gain further momentum on the back of increased public sector development spending coupled with infrastructure and power sector development projects under the China-Pakistan Economic Corridor.
Related news categories: business economic-indicators misc helpline: +92-42-3631-4186 (10:30am to 5:30pm)