Pakistan’s GDP growth target for FY10/11 at 2.4pc

Pakistan’s finance ministry said the country’s economic growth target had been revised to 2.4 percent for fiscal year 2010/11 (July-June), compared with an original target of 4.5 percent.

The GDP growth target was dropped to 2.5 percent following the summer floods of 2010, which caused about $10 billion in damages.

The new figure was published after a meeting of the Monetary and Fiscal Coordination Board, which also included the country’s finance minister and the governor of the State Bank of Pakistan.

From: Brecorder