Macro-economic targets

A provisional estimate of a GDP growth rate of 3.94 percent in the fiscal year 2021 (by the National Accounts Committee against the National Economic Council target of 2.1 percent) – and even lower projections of international finance institutions and the State Bank projection of 3 percent – has injected the policymakers with an unbounded enthusiasm. They have pitched the growth target for the next year at 4.8 percent and spun a macroeconomic framework that ought to be laid bare to maintain a sense of realism. In an environment where, in a first, the ruling party legislators are seen throwing budget documents at the opposition in the parliament, the future is hard to predict.