Current State of the Economy
is facing challenges on almost on all fronts – be it poverty, illiteracy or unemployment. It appears that the economy is on the verge of collapse as some economic drivers are:-
Debt- The total debt is approximately $95.1 billion as on June 2019.
GDP – The nominal GDP per
Capita of the country was $1641 in 2018 and $1357 in 2019 which rank 147th and 154th respectively.
Growth rate – The annual
growth rate averaged 4.94% from 1952 till 2018. There has been a shrink in growth rate in 2018 from the previous year from 5.79% to 5.20% and anticipated to be around 4.50% in 2020.
Inflation rate – The ideal inflation rate is about 3-4% for the sustained growth of the country. However, the inflation rate of Pakistan stands at 7.64% as on June 2019 whereas it is 2.05% and 2.10% in respect
of India and China respectively.
FOREX reserve – The Foreign Exchange Reserve of the country was $14.950 in February 2019.
Account trade deficit – The trade deficit of the country has shrunk by $2 billion to $19.264 billion in the July 2018– January 2019 against
$21.32 billion during the corresponding period the previous year.
Ease of doing business – As per latest World Bank annual rating, Pakistan
rank 136 in the Ease of doing business.
Tourism – Pakistan is the 4th most treacherous country in the world and ranks at 124 in
the world which has negatively affected the tourism industry and had contributed only 2.9% ($ 832.1million) of total GDP.
Unemployment – The unemployment rate is approximately 6%
Poverty- Poverty stands at 40% in 2018 as against 29.5% in
Stock – A Chinese consortium has acquired 40% Million Equity of Pakistan Stock Exchange for
$85 aimed at mobilising funds for China Pak Economic Corridor (CPEC)