Context: On July 26, 2019, while delivering a talk at the Karachi School of Business & Leadership and in comparing Pakistan’s savings to GDP ratio to other countries in the region, Mr. Asad Umar, MNA and Chairman National Assembly Standing Committee on Finance, Revenue and Economic Affairs, claimed that India, Bangladesh and Vietnam all have a savings to GDP ratio of 30%.

Claim: “India, Bangladesh and Vietnam, all have savings to GDP at 30%.”

Claimant: Mr. Asad Umar, MNA, Chairman National Assembly Standing Committee on Finance, Revenue and Economic Affairs

Source of Claim: https://www.youtube.com/watch?v=3wLQaHqudzU (starts at 35:05)

Status: True

Sources:

https://data.worldbank.org/indicator/NY.GNS.ICTR.ZS?most_recent_value_desc=false World Bank’s most recent national accounts data, and OECD National Accounts data files

Report/Ruling: All three countries that Mr. Asad Umar mentioned have a savings to GDP ratio of almost 30%. As of 2017, India, Bangladesh and Vietnam have a savings to GDP ratio of 31%, 35% and 24% respectively.