Economic growth to slow down to 2.4%: finance ministry

On the basis of budgetary measures, the Ministry of Finance estimates economic growth rate to further slow down to 2.4% and inflation rate to rise up to 13%, showing a wide difference with targets set by the National Economic Council in its meeting presided over by PM Imran Khan on 29thMay’19 in which it had approved a target of 4% GDP growth rate and inflation rate target of 8.5% for FY20. Finance ministry explained that the Planning Commission had set targets based on certain assumptions while the ministry and the SBP made projections on the basis of up-to-date data.