INP-WealthPk

Finance Division categorically rejects report alleging “Dar’s Legacy: a heavily-indebted Pakistan"

September 23, 2017

ISLAMABAD, Sep 23 (INP): The Finance Division here on Saturday categorically rejected a report appeared in a section of media, "Dar’s Legacy: a heavily-indebted Pakistan". The spokesman of the Finance Minister in his comment on the report said that the past four years of the present government have seen tremendous economic growth whereby the size of the economy grew from USD 225 billion in 2013 to USD 304 billion in 2017 thus constituting an aggregate growth of 35 percent during the said period. This was only made possible by the prudent policies of the government that included historically low domestic interest rates, a prolonged and sustained period of low inflation and price stability, significant surge in private sector credit, huge increase in PSDP spending and above all an effective monetary policy coupled with a judicious fiscal policy that saw the budget deficit come down from 8.2 % in 2013 to 5.8% in 2017. Despite all these positive development some detractors have made it a habit to cherry pick the selective numbers and present them in isolation without giving the reader a proper perspective and a complete picture of the economy, the spokesman said. INP/AH/LK