Before officially writing an article to share, our good friend and good brother - Pakistan's fiscal 2022 GDP data, Nansheng had informed interested netizens through a short article. The general idea is as follows: The information disclosed by the National Statistical Office of Pakistan shall prevail:
In FY2022, Pakistan's total socially completed nominal GDP rose to Rs 6,694,990.07 crore (close to 67 trillion), an actual increase of 6.2 per cent compared to the previous fiscal year, excluding price movements. Similar to other countries around the world, the Pakistani economy is also actively recovering.
Some netizens are very confused, it is only the end of July 2022, if it is to share Pakistan's economic development in the first half of 2022, this is logical; If Nansheng is estimating Pakistan's economic development in 2022, it is also a normal phenomenon.
But the small short article released by Nansheng did not write "first half of the year", nor did it write the word "estimate", oh, what is the situation?
Notice the word "fiscal year"
The chart above is the economic data released by the Pakistani authorities for the last fiscal years, which clearly states: Pakistan's nominal GDP completed in 2021-22 was 669499.07 crore, compared with Rs 55795515 crore in 2020-21, excluding price changes, an increase of 6.2%.
If price movements are not excluded, Pakistan's nominal GDP growth rate is as high as 20%. The difference between the nominal growth rate of 20% and the real growth rate of 6.2% can be understood by netizens as the boost of inflation, inflation, once again exceeding the impact of real production.
At average exchange rates, Pakistan's GDP was converted into US dollars at US dollars at US dollars. With a population of 227 million, Pakistan's GDP per capita in 2021-22 is around $168.649 billion.
As the saying goes, there is truth in the picture! The above data was not made up by Nansheng blindly. It's just that 2021-22 is essentially a "fiscal year, and can be shortened to fiscal year 2022", which is only a word away from 2022.
Netizens who are not familiar with financial information have the illusion that "Pakistan's GDP in 2022 is 382.83 billion US dollars". Pakistan uses fiscal years, not natural years. The fiscal year begins on July 1 of the previous year and ends on June 30 of the following year.
The year 2021-22 (which can be shortened to fiscal year 2022) is the period of time that starts in July 2021 and ends in June 2022.
In the published report, the Pakistani authorities also mentioned GDP calculated using factor prices, which was Rs 62,677.555 crore in FY2022, a real increase of 5.97 per cent and a us$358.403 billion at average exchange rates.
Judging from public information, Pakistan's economy in fiscal 2022 has basically achieved a full recovery, but it has encountered new difficulties. Similar to Sri Lanka, Pakistan's foreign exchange reserves have largely bottomed out under the impact of soaring prices of commodities such as energy and food.
At present, only about 6.3 billion US dollars are left, which is no longer enough to cope with the needs of foreign trade enterprises. Coupled with the impending repayment pressure on short-term debt, Pakistan's finances are once again strained. The World Bank warned that if funds are not available for bailouts, Pakistan May once again experience "macroeconomic turmoil". This article is organized and written by [Nansheng], please do not reprint or plagiarize without authorization!