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Chinese officials blamed the West for Pakistan’s economic crisis, [104] and state media continues to talk about the strengths of the China-Pakistan Economic Corridor. [105] “Only China has given a full plan. From this perspective, it is the Western world that ‘abandoned’ Pakistan, and China is the one that extended a helping hand.
Pakistan's economy remains under severe strain due to a debt crisis, with the country facing challenges in repaying $1.2 billion in outstanding payments. [27] In Pakistan, inflation maintains its upward trajectory, as indicated by the most recent official data, which shows a year-on-year increase of 35.4% in the consumer price index for March 2023.
Common indicators include a state whose central government is so weak or ineffective that it has little practical control over much of its territory; non-provision of public services; widespread corruption and criminality; refugees and involuntary movement of populations; and sharp economic decline. [1]
The economy of Pakistan is categorized as a developing economy. It ranks as the 24th-largest based on GDP using purchasing power parity (PPP) and the 43rd largest in terms of nominal GDP. With a population of 254.4 million people as of 2024, Pakistan's position at per capita income ranks 161st by GDP (nominal) and 138th by GDP (PPP) according ...
Sindh which is the second largest province in terms of population and GDP which has steadily continued to grow, contributes 23.7% to the national economy. [2] It is featured well within the list of country subdivisions with a GDP (PPP) over $200 billion. Sindh's GDP is to a large extent influenced by the economy of Karachi.
Pakistan's economy was quickly revitalized under Ayub Khan, with economic growth averaging 5.82 percent during his eleven years in office from 27 October 1958 to 25 March 1969. Manufacturing growth in Pakistan during this time was 8.51 percent, far outpacing any other time in Pakistani history.
Pakistan reports a case of mpox in Azad Kashmir, raising the total of cases in the country to four. In response, Prime Minister Shehbaz Sharif announces that the country will now be screening people at entry points for the disease.
The liberalisation methods raised country's GDP growth at 9.38% (1964), 8.71% (1980s) and 8.97% (2004–07). After exclusive establishment of Pakistan, the country's economic policy for the rapid growth of the national economy was deeply understood and extensive efforts were carried out by the government of Prime minister Liaquat Ali Khan in 1947. [2]