Pakistan'S Economic Outlook In 2020 And Insufficient Cotton Production Affected The Development Of The Textile Industry.

According to the Pakistan business records January 7th commentary: in 2019, Pakistan's economy stabilized and picked up, the rupee stabilized the 155:1 level against the US dollar, the tax revenue was expected to hit a new high of 735 billion rupees, and the original deficit accounted for 3.5% of the GDP share from the 2018/19 financial year to 0.6% in the 2019/20 financial year. Imports in the first 5 months of the new fiscal year decreased by 21%, exports increased by 5% compared to the previous year, and the current account deficit contracted by 73%. However, it can not be overlooked that the development of Pakistan's real economy still did not get out of difficulties last year. The inflation rate soared to 13%. In the first 4 months of the new fiscal year, the output value of large manufacturing industries declined by 6.5%, and 9 of the 15 industrial categories in the key statistics showed a negative growth trend. Cotton production not enough affected the development of the textile industry, while the transportation, retail and construction industries were developing slowly. The GDP growth in 2019 is estimated at 2%, the unemployment population is about 1 million, and 9 million people live below the poverty line.

In 2020, the Pakistan government should focus on economic development, take the China Brazil Economic Corridor project as a priority, accelerate the implementation of major projects such as affordable housing construction, continue to optimize the business environment, attract investment, stimulate exports, and stimulate the vitality of economic development. We should increase international financing efforts, maintain the rupee exchange rate stability and stabilize the economy. At the same time, we will continue to implement the IMF cooperation plan, enhance the positive expectation of the international community, enhance the government's ruling construction, and achieve high quality, low inflation and sustainable development.