Pakistan likely to miss growth target: SBP.

KARACHI -- The State Bank of Pakistan (SBP) on Monday said during the first quarter of current fiscal year FY-20, Pakistan's economy moved progressively along the adjustment path, however, inflation reached the highest level during the last seven years, reported The News.

The central bank in its report said Pakistan's economic growth was unlikely to meet the target of four per cent this fiscal, due to soft trends in agriculture and manufacturing production. The SBP also advised the government to address structural vulnerabilities to put the economy on a sustainable growth trajectory.

Performance of commodity-producing sectors would likely remain subdued, the SBP said in its report. 'In view of these developments, achieving the real GDP growth target of four per cent appears unlikely,' the SBP said.

The central bank's report spelt out in sharp detail the challenges being faced by the economy including mismatch related to exports quantum and earnings, delays in implementation of tax measures and weak management in food prices.

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