Business

ISLAMABAD (Staff Report) – Finance Minister, Senator Muhammad Ishaq Dar said that Gross Domestic Product (GDP) growth would gradually rise to 7 percent by Fiscal Year 2018/19, while highlighting the country’s Medium Term Goals (2016-19) during a post-budget press conference on Saturday.

Addressing the press, the minister said that inflation would remain in the single digits and investment-to-GDP would rise up to 21 percent in the medium term, rising from its current level of 15.6 percent of GDP.

The minister said that the fiscal deficit would be brought down to 3.5% of GDP while the tax-to-GDP ratio would be increased to 13.9 percent.

The minister also expressed confidence that the country’s foreign exchange reserves would reach to $30 billion by the end of Fiscal Year 2018/19.