Corona has reduced the income of 6.7 million people, SBP said
Karachi: According to a special survey of the employment impact of Corona, the income of 6.7 million people decreased. According to the SBP’s second quarterly report, Corona’s Special Employment Impact Survey reduced the income of 6.7 million people. The number of workers reached 35 million during the lockdown. The number of workers before the outbreak of Corona was 55.7 million.
After the resumption of economic activities and ease of transportation, the number of unemployed workers decreased by 37% and the number of workers reached 50 million. Up to 2.5 million have been restored.
According to the SBP, the lockdown saw the biggest decline in construction-related jobs by 59 percent, with 21 percent of construction-related workers losing their incomes. GDP growth will be 2 to 3 percent this financial year.
The GDP growth target for the current financial year was set at 2.1%, it has become difficult to keep the inflation target at 6.5%, the growth rate will remain at 7-9%. According to the SBP, the current account deficit will remain at one percent of GDP, the fiscal deficit was targeted to be limited to 7 percent, the fiscal deficit will be 6.5 to 7.5 percent of GDP.