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OVERVIEW OF THE
ECONOMY
Pakistan’s economic recovery has gained further traction during the fiscal year 2004-05, with the economy expanding
at its fastest clip in two decades. The exceptionally strong growth was underpinned by accommodative
macroeconomic policies, growing domestic demand, renewed confidence of private sector, fiscal discipline and
competitive exchange rates.
The outgoing fiscal year has indeed been an eventful year for Pakistan’s economy. The year has posted several
multiyear “firsts�. Pakistan’s real GDP growth of 8.4 percent in 2004-05 is the fastest pace in two decades; the fifth
time in the country’s history that it exceeded 8 percent growth mark; Pakistan positioned itself as the second fastest
growing economy after China in 2004-05; its per capita income crossed $ 700 mark; Pakistan achieved highest ever
production of cotton (14.6 million bales) and wheat (21.1 million tons) in 2004-05; it has seen the largest ever
expansion of private......

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Approximate Word Count: 18602
Approximate Pages: 75 (250 words per double-spaced page)

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