Economy of pakistan

Countries country dropdown • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • ISLAMABAD, October 6, 2022 - Pakistan’s economy is expected to grow by only 2 percent in the current fiscal year ending June 2023. According to the World Bank’s October 2022 Pakistan Development Update: Inflation and the Poor, the slower growth will reflect damages and disruptions caused by catastrophic floods, a tight monetary stance, high inflation, and a less conducive global environment. Recovery will be gradual, with real GDP growth projected to reach 3.2 percent in fiscal year 2024. Poverty in the hardest-hit regions will likely worsen in the context of the recent flooding. Preliminary estimates suggest that – without decisive relief and recovery efforts to help the poor – the national poverty rate may increase by 2.5 to 4 percentage points, pushing between 5.8 and 9 million people into poverty. Macroeconomic risks also remain high as Pakistan faces challenges associated with a large current account deficit, high pub...

• العربية • Asturianu • Беларуская • Català • Čeština • Deutsch • Español • فارسی • Français • Galego • 한국어 • Հայերեն • हिन्दी • Ido • Bahasa Indonesia • ქართული • Македонски • Occitan • Oʻzbekcha / ўзбекча • ਪੰਜਾਬੀ • پښتو • Português • Русский • Simple English • தமிழ் • Türkçe • Українська • اردو • Tiếng Việt • 中文 Main data source: CIA World Fact Book All values, unless otherwise stated, are in The economy of Pakistan is classified as a In the formative decades of Pakistan, the economy was largely based on private industries. Nationalisation of significant portion of the sector including financial services, manufacturing and transportation had begun in the early 1970s. With the beginning of The growth poles of Pakistan's economy are situated along the Pakistan is currently undergoing a process of Falling low on budgets for paying interest on its debt, Pakistan has been facing Economic history Main article: 1940s-50s At Pakistan's inception in 1947, Pakistan was an agrarian economy. Agriculture contributed 53% GDP and 53.2% in 1949-50, employing 65% of Pakistani labour force, contributing to 99.2% of country's exports and earning 90% of foreign exchanges. Pakistan had a total population of 30 millions of which 6 millions lived in cities. It had a literacy rate of 10% and a poverty ratio of 55-60%. Both In 1950, Pakistan registered national and foreign savings rates of 2% each, and an investment rate of 4%. The manufacturing contributed 7.8% of GDP while other sectors contr...