Govt. set to approve 6.2% GDP growth target for next year

As the federal cabinet’s approval of the Budget Strategy Paper remains pending, the govt. is set to approve FY19’s macroeconomic framework, which envisages 6.2% economic growth rate and 6% inflation targets. The Annual Plan Coordination Committee (APCC) is expected to approve the macroeconomic framework and federal PSDP for FY19 today (16th Apr). Historically, APCC meetings have been held after the approval of the Budget Strategy Paper from the federal cabinet. However, this year, the govt. has convened the APCC meeting without first securing the cabinet’s approval of the budget strategy paper. After the APCC’s approval, the National Economic Council is the final authority to approve the macroeconomic framework. The NEC is headed by the PM and the provincial chief ministers are its members.