Economy stagnating amid big deficit, low reserves: World Bank

[wali87]

'All this economic mess is because of the previous government.' This sentence seems to be the only defence that this government has for all the hell that the country is going through due to their incompetence. They can stick to this narrative as much as they want but by the end of their tenure people are going to hate them more than the past governments. This sentence is getting rusty with zero significant results. Every government inherits some sort off economic mess and its their job to correct things as early as possible.

 

[ejaz007]

MF sees no change in Pak growth rate

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ISLAMABAD: The International Monetary Fund (IMF) has projected Pakistan’s real GDP growth and inflation unchanged at 2.4 percent and 13 percent respectively for the current fiscal year 2019-20.

However, the IMF has projected that Pakistan’s unemployment ratio will go up to 6.2 percent in FY-2020 against 6.1 percent for FY-2019. According to the World Economic Outlook (WEO) Global Manufacturing Downturn, Rising Trade Barriers released on Tuesday from Washington, DC, on the eve of annual meeting of IMF/World Bank, the IMF report shows that Pakistan’s real GDP stood at 5.5 percent in FY-2018 and it dropped to 3.3 percent in FY-2019. Now the IMF has projected that the real GDPgrowth would further contract and would be standing at 2.4 percent for the ongoing fiscal. The IMF also projected that Pakistan’s real GDP growth would touch 5 percent by FY-2024.

However, Pakistani authorities do not agree to further nosedive of the GDP growth and they projected that the real GDP growth would be hovering around 3.5 percent with the help of improved agriculture sector growth. They argued that the overall agriculture sector growth remained negative in the last five years, so there is possibility of rebound whereby the agriculture sector growth could touch positive 3.5 percent in the current fiscal year. Overall, the GDP growth might touch 3 to 3.5 percent during the ongoing fiscal year.

On inflation, the IMF shows that the consumer price stood at 3.9 percent in FY-2018 that went up to 7.3 percent in last FY-2019. Now the IMF has projected that the consumer price might go up to 13 percent in the ongoing fiscal year FY-2020. The Pakistani authorities are taking the stance that the IMF adjustments could result into surge in prices and CPI-based inflation has already resulted into double digits. The IMF also projected that the CPI-based inflation of Pakistan would lower by 2024 and would be standing at 5 percent.

On current account deficit (CAD), the IMF report shows that Pakistan’s CAD stood at 6.3 percent of GDP in FY-2018 that had dropped to 4.6 percent of GDP in last financial year 2019. Now the IMF has projected that the country’s CAD would be standing at 2.6 percent of GDP for the current fiscal year 2020. The CAD is projected to further slash down by FY2024 and would be standing at 1.6 percent of GDP.

The unemployment rate stood at 6.1 percent in FY-2018 and FY-2019, but now the IMF projected that it might increase to 6.2 percent in the ongoing fiscal 2020.

https://www.thenews.com.pk/print/541683-imf-sees-no-change-in-pak-growth-rate

 

[Rusty]

Thats not what you said. I know for a mindless PTI troll whose reflex move is to resort to vulgar, uncouth insults words don't matter. But for civilized people who deal with facts; words matter.

So lets take your claims to pathology and look at them under a microscope.

1. "current problem of pakistan is the fault of 10 years of miss government"
-First of all miss government is not a term. I think you mean misgovernment but you're a online PTI troll so spelling is not your forte.
-Second, every single problem that ballooned in the last ten years is the direct result of 9 years of passing the buck by the dictatorship of Musharraf. PIA was not privatized. PSM was not privatized. Paltry sums were received for other state entities. Electricity was not generated. Revenue was not collected. And the only reason debt did not increase was because of Pakistan's slavery in the war on terror which allowed for debt to be ignored and rescheduled. And like every balloon loan when 2008 hit...the PPP had to go hat in hand to the IMF and since then we have not had any of the favorable lending conditions that Musharraf and his cronies failed to use to improve our situation.

2. You trolls really need to stop attacking news papers. Dawn is the oldest English newspaper in Pakistan. It will outlast PMLN, PTI, and PPP. Furthermore, lets look at one example...Dawn Leaks. Everything they reported was true. Today Hafiz Saeed is under house arrest. FATF is on our necks. Imran Khan is emphatically saying that any militancy from Pakistan towards India will be considered an attack on Pakistan. Why is he saying that? Bc the powers that be internationally demanded these things. Dawn is a newspaper. It reports news. Get over it.

3. The world media reports on Imran Khan in glowing terms. The economy of Pakistan is another matter. There is no rift between domestic and foreign media on this. The fact is shock therapy is ongoing. This is not IK's fault and he had no option. But to deny that this is the reality is ridiculous.

So with all that said, what is your next insult for me? Please make sure its better than street pooper.

All that typing and the only valid thing you said is that I misspelled "misgovernment"
There you go, you got your lollipop.

None of your arguments are close to valid.
1. PPP and PMLN have been on and off in power for nearly 40 years. No one on earth can compare almost 40 years of rule to 1 years. And even if you do, by so many metrics PTI's 1 year rule has been better then the previous 40 years.
Just look at the tax net being increased, public healthcare, public schools.
You want to blame the economy on 1 year of PTI but due to years of eating donkey meat you don't seem to realize that it is impossible to fix or destroy the economy in just 1 year.
IT took Nawaz and zardari 10 years to bring us, PTI can't hurt of fix it in just 1.


2. Why are you getting to butt hurt over the fact that dawn has an anti PTI bias?

3. see 1

There are no links. The only people going gaga over PMIK speech in UNGA are Pakistani.

And Indians as well, they are obsessed with him.
For the first time they see a PM out of South Asia who looks human and not like a monkey.

 

[KhanBaba2]

And Indians as well, they are obsessed with him.
For the first time they see a PM out of South Asia who looks human and not like a monkey.

Still no link. The UNGA is not a beauty contest.

 

[Rusty]

Still no link. The UNGA is not a beauty contest.

I'm not going to give a link out of principal as you are just pulling a red herring and diverting attention away from the real point.

And it's nice to know that even you admit your leaders look like monkeys