Pakistan’s economy worst in region: WB

[great]

Pakistan’s economy worst in region: WB


ISLAMABAD: World Bank has termed the economy of Pakistan , worst in the region in which per capita income is decreasing and rate of unemployment is on the rise.

World Bank has issued its report on the economy of Pakistan according to which the economy of Pakistan has been plunging down rapidly. The report revealed that natural calamities like flood , security problems and political disparities are the main impediment in the way of development.

At present rate of unemployment is 13 percent , whereas 18 percent people are forced to lead their lives below poverty line in the country. Pakistan requires some three million employments but the number of jobs have not been increasing and current flood adds fuel to fire and deteriorate economy further.

It was also told in the report of WB that the GDP rate in the country was 5 percent in 1990, which fell down to 2.5 percent. Report also criticized the subsidy in the energy sector. World Bank also rejected the facts and figure given in the budget by saying that these were bogus.

The report revealed that Pakistan is lingering behind other SAARC countries like India, Sri Lanka, Nepal and Bangladesh financially. The main reason of the financial crises in Pakistan is that the government took loan on high rate of interest resulting increase in inflation.

 

[Roybot]

But Pakistan has better account than India

 

[Hyde]

There is no doubt our economy is going nowhere

I would have recommended better idea to help them come out of crisis. No politician would be getting higher income than the National minimum wages... and the President house should be evacuated and converted in to a supermarket. Each room in the president house would be selling nan pakora, samosa chaat or ladies garments or something else. This way it would have helped boost the economy of Pakistan. Both President and Prime Minister house should have been left as a public place and if the idea of supermarket worked, we could extend this business to CM house of each respective province.

I am sure this is just a beginning of positive changes and soon we might have a better economy after the business is booming

 

[Chinese-Dragon]

But Pakistan has better account than India

That is true, Pakistan does have a better trade balance than India does.

 

[Chinese-Dragon]

Hence Pakistan > India, UK, USA

What paranoia. I obviously never said that.

Roy gorav stated something and I backed it up.

 

[RezRoll]

That is true, Pakistan does have a better trade balance than India does.

Mate, I don't get this. If the trade balance is higher, how come it doesn't show in the general prosperity of the people? Generally higher trade balance would mean a richer country right?

 

[Roybot]

Mate, I don't get this. If the trade balance is higher, how come it doesn't show in the general prosperity of the people? Generally higher trade balance would mean a richer country right?

Country x exports 1 million imports 500,000

Country y exports 40 Billion imports 42 Billion.

Country x is obviously the better economy.

 

[somebozo]

all this while PPP is trumpeting record remittances and exports?
I was watching the interiod sindh flood coverage on GEO, it was evident that people who voted for PPP clearly regretted it. Because the same PPP goons aka "politically influential people" were hoarding up all the aid while poor and displaced were left to drink dirty water.

 

[RezRoll]

Country x exports 1 million imports 500,000

Country y exports 40 Billion imports 42 Billion.

Country x is obviously the better economy.

Thanks man, well said. I guess it's more about the quantity of trade being done rather than the balance.

 

[karan.1970]

But Pakistan has better account than India

Trade balance = Amount of Exports - Amount of Imports

When you have no money left with you to import, then obviously you can not import anything or import very little.. Hence there is nothing or very little on the negative side of the equation..

 

[TopCat]

Country x exports 1 million imports 500,000

Country y exports 40 Billion imports 42 Billion.

Country x is obviously the better economy.

Not necessarily. There are plenty of countries doing extremely good with trade deficit. USA had trade deficit since ages. India also has a big trade deficit.

 

[Roybot]

 

[Chinese-Dragon]

Generally higher trade balance would mean a richer country right?

Not quite buddy.

It's only one factor. Japan for example, has a massive trade surplus, yet their economy is shrinking. Turkey has a trade deficit, yet they are one of the fastest growing economies in the world.

List of sovereign states by current account balance - Wikipedia, the free encyclopedia

 

[Ammyy]

where is expert ??? Riaz Huq

 

[StormShadow]

Hence Pakistan > India, UK, USA

Lol...nice sense of humor!