Pakistan predicted to become the Muslim World’s fastest growing economy in 2017: The Economist

[cloud4000]

For as long as our exports are declining and domestic consumption is not increasing, there is a lot to worry about. The economy is growing given on the increased funding from the CPEC but it is not sustainable for a long period of time unless more countries join CPEC to take part in industrial revolution.

Economic growth rates are just accounting numbers TBH.

Did this growth rate result in our exports rising? No
Millions of poor and hungry having a better life? No
Better health and education facilities provided? No
Better police and justice system provided? No
Better security situation and reduced threat to life and limb? No


The fact of the matter is growth rate only benefits the top 10% of the people in a country like Pakistan, more so when all your top government officials are billionaires through ill-gotten wealth.

When looking at economic growth -- especially GDP -- always look at the underlying numbers. GDP is calculated as follows:

GDP = C + I + G + (X - M) or GDP = private consumption + gross investment + government investment + government spending + (exports - imports).​

If the government is making massive investments and spending a lot of money, it will raise the GDP numbers, especially if said government is printing money or borrowing heavily to do so. Given how much investment is being made in CPEC by Pakistan, this could be possible.

Like I said before, GDP number is used by media to give easy designation how an economy is doing even though it can be, on the surface, quite misleading.

Congrats to Pakistan for their achievement. What about Bangladesh? We are going to achieve 7.2% for 2016-2017 and our target is to get to 7.5% for 2017-2018. (in BD financial year is July-June).

Your not really a muslim country though are you

More an extension of indian's hindu rashtra

Being an "extension of Indian's hindu rashra", Bangladesh is doing much better economically than Pakistan, so your comments will be taken with a grain of salt.

 

[CriticalThinker02]

I see. Haters hate.....and Recism still prevails...

It's the truth, hasina is an Indian puppet.

 

[Kyoto]

Surely Burma and many African countries are growing faster than even China and India

 

[VCheng]

The poor of Pakistan will continue suffering at the same level for at least the next decade or two. And even when the economy grows, due to no regulation, no public investment and the market liberalisation we've undergone, growth overall will also expand and form a massive void between the very rich and the poorest.

However, the proud people of Pakistan can take solace in the fact that they are and will be protected by a large nuclear arsenal.

 

[yesboss]

Rejoice. Pakistan did successfully test an SLCM with nuclear capability recently.

However, the proud people of Pakistan can take solace in the fact that they are and will be protected by a large nuclear arsenal.

Got your itch the first time, now calm down!

 

[Jungibaaz]

Countries like Bangladesh have indeed turned their GDP growth rates to a much larger improvement in social spheres (health, hygiene, etc), compared to countries like India which fall in the same case (like Pakistan) where GDP growth has not correlated equally to a proportional rise in living standards or health standards.

I had a more philosophical perspective in mind, it's not that GDP disfavours valuing income distribution and other unseen effects, it's that it takes no account whatsoever. More of a criticism of GDP as the sole measure of progress than relative use. You're right to say, many countries successfully correlate their GDP growth with other good stuff. While others correlate theirs with higher inequality, tons of externalises, heaps of debt and other bad stuff.

 

[Menace2Society]

Need to maintain this for 10 years minimum.

 

[The SC]

Malaysia with its new JV with China to make a competing port to Singapore will tremendously help its economy , so I do not see why it wouldn't be in the top 20..
Anyhow, way to go Pakistan..

 

[airmarshal]

The first tenure of an 'elected' govt where exports have been falling.

The growth in economics is short term an is because of foreign loans and CPEC investments. This is not sustainable.

The only thing sustainable is when there is sustained investment in capital commodity, plants and machinery and the exports of finished goods. When Pakistan reaches the point where its exports rise because of its economic output - the goods and services, only then Pakistan will become a truly growing economy. Until then its just an eyewash and number jugglery.

The last time Pakistan saw real growth was in Musharraf era. These thieves posing as democratic leaders, whose own interests take precedence over country's, can only give us and our future generations loans to pay off, while they enjoy their lives in London and Dubai tending to looted wealth.

 

[Blue Marlin]

not really, Bangladesh is doing better than pakistan.

 

[Imad.Khan]

Countries like Bangladesh have indeed turned their GDP growth rates to a much larger improvement in social spheres (health, hygiene, etc), compared to countries like India which fall in the same case (like Pakistan) where GDP growth has not correlated equally to a proportional rise in living standards or health standards.

I was discussing this with my friend and he dis-agrees with you, according to him, the living standards in India have increased especially for the people in the IT industry and call center service industry. He did say that it might not look that it has as the house prices / rent has also increased coupled with increasing population.

P.S. he is from Bangalore.

 

[My-Analogous]

Even there, the author would be wrong.

Bangladesh economically grew faster than Pakistan in 2016 and will also grow faster than Pakistan in 2017.


Incorrect. This is the case in some cases only.

Countries like Bangladesh have indeed turned their GDP growth rates to a much larger improvement in social spheres (health, hygiene, etc), compared to countries like India which fall in the same case (like Pakistan) where GDP growth has not correlated equally to a proportional rise in living standards or health standards.

Do you ever visited Pakistan? Our living standard is much higher then many other including India.

 

[Danish saleem]

Good to saw Pakistani Economy on Track, and looking forward in near Future ,low Cost coal power coming in Grids, which will decrease the cost of our Manufacturer's and making them compatible with other countries of region.

 

[AyanRay]

Do you ever visited Pakistan? Our living standard is much higher then many other including India.

That's good then. With every indicator, ratings published by International organizations will disagree with you (as per HDI, you are doing worst than Nepal), its surprising to know Pakistan is doing so good.

 

[Muhammad Omar]

Here's the Chart of it