For the first time in 68 years, Pakistan's economy is set to contract in the outgoing fiscal year with a negative 0.38 per cent due to the adverse impact of the coronavirus pandemic coupled with the already weak financial situation before the pandemic hit the country, according to the economic survey unveiled on Thursday.
Advisor on Finance Abdul Hafeez Sheikh, releasing the Pakistan Economic Survey 2019-20 said the economy suffered massively due to the coronavirus pandemic which has so far infected about 120,000 people in the country, and forced the government to impose lockdown in March for several weeks.
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