ECONOMIC CRISIS IN PAKISTAN

Economic Crisis in Pakistan - Short Essay

ECONOMIC CRISIS IN PAKISTAN

How to resolve the issues

Ahmad Shakeel Babar

Pakistan is the 5th most populous country in the world, having an economy of over $245 billion. Being the only nuclear power from the Muslim world, its importance increases manifolds. However, it is, yet again, undergoing stagnant economic growth and hyper-inflation. Its GDP grew by only 3.8 percent – one of the lowest in the region – in 2018-19 whereas the inflation remained as high as 13 percent – one of the highest in the region. This macroeconomic crisis is mainly caused by inefficient domestic resource mobilization, current account deficit and loss of market confidence.

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