Business

ISLAMABAD (Staff Report) – The Government is pursuing a medium term macro-economic framework aimed at gradually increasing the GDP growth to 7 percent by financial year 2018-19, a statement said on Sunday.

According to budget documents, during fiscal year 2015-16 GDP growth has been recorded at 4.71 percent, which is highest in the previous eight years.

Under the three-year medium term macro-economic framework 2016-19, foreign exchange reserves would be enhanced to thirty billion dollars.

Other objectives of the framework include containing inflation to a single digit, increasing the investment to GDP ratio to 21 percent, bringing down fiscal deficit to 3.5 percent and increasing the tax to GDP ratio to 13.9 percent.