Govt sets GDP growth at 7.8pc for next fiscal

FE Online Report | Published: June 07, 2018 15:21:41 | Updated: June 07, 2018 18:15:26


Reuters file photo used for representation

The government has set a 7.8 per cent Gross Domestic Growth (GDP) growth target for the next financial year (FY) 2018-19, aiming to take it on the higher trajectory within next couple of years.

The growth target is 0.25 percentage points higher than the 7.65 per cent set in the outgoing FY2018.

In the national budget for the current fiscal, the government set 7.4 per cent economic growth target.

According to the latest Medium Term Macroeconomic Framework (MTMF), the country wants to grow at 8.0 per cent rate by the next FY2020 as it has set the target in the ongoing seventh five-year plan (SFYP).

Three years ago in FY2016, the BBS statistics showed, the economy for the first time crossed the 6.0 per cent trajectory as it grew at 7.11 per cent against the 7.0 per cent target.

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