The government has projected GDP growth for the full year 2018-19 to come in at 7.2%, which implies that growth in the second half of the year would slow significantly to 6.8% from the 7.6% clocked in the first half of the year, according to the first advance estimates of national income for 2018-19 released by the Ministry of Statistics.
Releasing the first advance estimates of National Income for 2018-19, the Central Statistics Office (CSO) said, “The growth in GDP during 2018-19 is estimated at 7.2 per cent as compared to the growth rate of 6.7 per cent in 2017-18.”
“Real GVA (Gross Value Added) is anticipated to grow at 7 per cent in the current fiscal as against 6.5 per cent in 2017-18,” it said.
The growth estimate was in line with economists’ expectations.
Most private economists have lowered the country’s growth forecast to around 7 per cent for the 2018-19 fiscal year, compared with the central bank’s earlier estimate of 7.4 per cent, citing weakening consumption and a slowdown in credit offtake.
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