Inflation
Economic
Survey of
Pakistan
2002-03
An online publication by
Chapter 1. Growth and Investment
1. Growth and Investment
The outgoing fiscal year 2002-03 has
region are expected to be the star performers with
witnessed a sharp recovery in economic growth
growth exceeding 6.0 percent. With the exception
accompanied by equally impressive performance
of Thailand, the other ASEAN countries are
of agriculture and large-scale manufacturing.
projected to grow by less than 5.0 percent. Barring
Other significant achievements have been the
Iran, the other countries in the Middle East are
impressive growth in per capita income, both in
almost stagnating. In Africa, no country could
rupee and dollar terms, and national savings
achieve 5.0 percent growth in 2002-03. In South
reaching
total
Asia, Pakistan is the only country which achieved
investment and suggesting a large surplus in the
more than 5.0 percent growth in 2002-03. Two
current account balance. When viewed at the
points need to be noted as far as Pakistan's
backdrop of inhospitable external environment
growth performance is concerned. Firstly, when
and uncertain geo-political situation Pakistan's
compared with major economies of different parts
growth performance has been impressive in 2002-
of the world, Pakistan’s growth performance has
03. This year has witnessed major corporate
been impressive. Secondly, in a subdued global
scandals and bankruptcies in the United States,
economic environment, an impressive recovery in
resulting in bursting of the equity market bubble;
growth
rising uncertainties in the run up to war in Iraq,
resilience to external shocks.
new
heights
—
exceeding
simply
displays
Pakistan's
greater
causing oil prices to rise sharply, and recent outbreak of Severe Acute Respiratory Syndrome
The real GDP at factor cost was originally
business
targeted
Survey of
Pakistan
2002-03
An online publication by
Chapter 1. Growth and Investment
1. Growth and Investment
The outgoing fiscal year 2002-03 has
region are expected to be the star performers with
witnessed a sharp recovery in economic growth
growth exceeding 6.0 percent. With the exception
accompanied by equally impressive performance
of Thailand, the other ASEAN countries are
of agriculture and large-scale manufacturing.
projected to grow by less than 5.0 percent. Barring
Other significant achievements have been the
Iran, the other countries in the Middle East are
impressive growth in per capita income, both in
almost stagnating. In Africa, no country could
rupee and dollar terms, and national savings
achieve 5.0 percent growth in 2002-03. In South
reaching
total
Asia, Pakistan is the only country which achieved
investment and suggesting a large surplus in the
more than 5.0 percent growth in 2002-03. Two
current account balance. When viewed at the
points need to be noted as far as Pakistan's
backdrop of inhospitable external environment
growth performance is concerned. Firstly, when
and uncertain geo-political situation Pakistan's
compared with major economies of different parts
growth performance has been impressive in 2002-
of the world, Pakistan’s growth performance has
03. This year has witnessed major corporate
been impressive. Secondly, in a subdued global
scandals and bankruptcies in the United States,
economic environment, an impressive recovery in
resulting in bursting of the equity market bubble;
growth
rising uncertainties in the run up to war in Iraq,
resilience to external shocks.
new
heights
—
exceeding
simply
displays
Pakistan's
greater
causing oil prices to rise sharply, and recent outbreak of Severe Acute Respiratory Syndrome
The real GDP at factor cost was originally
business
targeted