ISLAMABAD The National Economic Council (NEC) would meet on Friday in order to finalise the economic targets and developmental budget for the coming fiscal year, which were proposed by the Annual Plan Coordination Committee (APCC) last Friday. NEC headed by Prime Minister Yousuf Raza Gilani would give approval to the development outlay of the country including federal PSDP 2010-11 and Annual Development Plan (ADP) of all the four provinces. It would also consider approving the other recommendations of APCC regarding economic targets. The APCC had already proposed economic targets for the coming fiscal year, which included setting inflation at 8 percent, GDP growth at 4.5 percent, agriculture growth is targeted at 3.8 percent, manufacturing growth at 5.6 percent and service sector growth at 4.7 percent. Similarly, the government is aiming for a fiscal deficit in the upcoming fiscal year of between 4 percent and 4.2 percent of GDP, compared with an earlier forecast of 5.1 percent. The APCC also recommended the development outlay including Public Sector Development Programme (PSDP) worth Rs 601 billion to the National Economic Council (NEC). The government proposed PSDP only Rs 280 billion as federal component while recommended Rs 321 billion for the provinces for their development projects. Similarly, the trade deficit is projected to be at $11.7 percent or 6.1 percent of the GDP for the next financial year. On account of the global uncertainty and continuous energy shortages and security situations, exports for 2010-11 are projected to grow gradually at $19.9b as against $19.2b estimated for 2009-10. Imports during the year 2010-11 are projected to increase by 6 percent to about $31.7b from $29.9b estimated for 2009-10. Workers remittances for 2010-11 have been projected to be around $9 billion as against $8.4b estimated for 2009-10.