The correct answer is 0.29%. According to the Economic Survey of Pakistan 2022-23, Pakistan's Gross Domestic Product (GDP) growth rate for the financial year 2023 was significantly low, recorded at 0.29%. This figure reflects a challenging economic period characterized by various internal and external factors, including political instability, high inflation, and severe balance of payments issues. The economy experienced a sharp deceleration compared to previous years, primarily due to stringent fiscal measures, import restrictions, and a contraction in industrial output. Options such as 1.6% and 3.04% represent different economic projections or actual growth rates from other periods, but they do not align with the official data for FY2023 as presented in the survey. The extremely modest growth rate underscores the severe economic headwinds faced by the country during that specific fiscal year, indicating a near stagnation rather than robust expansion, highlighting the urgent need for structural reforms.
According to the Economic Survey of Pakistan 2022-23, the GDP growth rate of Pakistan in the financial year 2023 was:
Correct Answer:
B. (B) 0.29%