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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Pakistani GDP growth seen lower than target-cbank Reuters - 2 hours 36 minutes ago KARACHI, Dec 29 - Pakistan's gross domestic product is likely to be significantly lower than a target of 5.5 percent in the 2008/09 fiscal year, the central bank said on Monday. The State Bank of Pakistan said in a report on the first quarter, that ended on Sept. 30, inflation would also exceed a target of 12 percent by a wide margin. The central bank projected GDP growth to range from 3.5 percent to 4.5 percent and inflation from 20 percent to 22 percent this fiscal year. The fiscal and current account deficits were expected to improve in the year to June 30, it said. The central bank estimated that the current account deficit would fall to between 6.2 percent and 6.8 percent of GDP, compared with 8.4 percent in the fiscal year of 2007/08. The fiscal deficit was projected to be 4.7 percent of GDP, compared with 7.4 percent in the previous year, it said. However, it said Pakistan still had many challenges even though there had been a fall in global commodity prices and the country entered an International Monetary Fund programme last month. "While many of the country's macroeconomic indicators may no longer be worsening, the imbalances are nonetheless still quite large," the bank said in its report, said adding that there was no room for complacency. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Business Cemex sells Canary Island operationsAP - 14 minutes ago US STOCKS SNAPSHOT-Wall St falls as Dow Chemical weighsReuters - 16 minutes ago Interbank lending rates easeAP - 20 minutes ago Stocks pull back amid Middle East tensionsAP - 22 minutes ago Wal-Mart joins Russian retail lobby groupReuters - 23 minutes ago Most Popular – Business Viewed Actress Jennifer Aniston appears naked in GQ magazine Woolworths to close quarter of stores Chances of gas cut '50-50', Russia warns Ukraine At least 210 dead as Israel hammers Hamas-run Gaza Obama economic plan to cost between 675 and 775 bln: aides View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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