KARACHI:The State Bank of Pakistan (SBP) lowered on Saturday its gross domestic product (GDP) growth forecast for the 2008/09 (July-June) fiscal year to 2.5-3.5 percent from an earlier target of 3.5 percent to 4.5 percent. The original target was 5.5 percent. Pakistan achieved GDP growth of 5.8 percent in the 2007/08 fiscal year.
The State Bank also said inflation would slow sharply in the final quarter of this fiscal year.
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