ISLAMABAD : According to the Economic Survey 2007-08, which will be officially released on Tuesday, GDP growth rate for 2007-08 remains 5.8 percent against 7.2 percent target.

The survey points out that people are facing severe problems due to massive power outages, rising inflation and food price spiral.

During the current fiscal year, services sector growth remains at 8.2 percent. Due to a decline in acreage of wheat and cotton, production was short, while lesser utilization of fertilizer and other inputs agriculture growth was limited to only 1.5 percent. The growth in large scale manufacturing sector was at 5.4 percent against the target of 12.5 percent.

In transport sector, growth rate stood at 4.4 percent while growth in small manufacturing sector remains at 4.8 percent.

Investment, which was 22.9 percent of the GDP for FY 2007-08, fell to 21.6 percent during the current fiscal year. Decline in foreign exchange was recorded at $4 billion, while current account deficit was at $14.1 billion, against a target of $8.1 billion. Aaj TV, 2008

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