Pakistan’s economy is almost on emergency mode; nobody’s worried!
Agriculture is the foundation of Pakistan’s economy. Almost 50% of their population is dependent on the agriculture sector.
While this year (07-08) the agricultural growth was targeted at 4.8%, the country unfortunately achieved merely 1.5%. The agriculture sector growth has fluctuated in the range of 1.5% to 6.5% during the last six years. And Pakistan’s economy is also suffering due to internal political disputes, a fast growing population and mixed level of foreign investment and costly imports of food, fuel and fertiliser. National savings were placed at 13.9% of GDP in 2007-2008, going down from last year’s high of 17.8%. Domestic savings have gone down to 11.7% of GDP from 16.16% of GDP in 2006-2007. Overall, foreign investment during the first ten months of the current fiscal year has declined by 32.2% and is now placed at $3.6 billion as against $5.3 billion compared to the same period last year. Pakistan’s current deficit extended to $11.6 billion during this year (again, first ten months of 07-08), which is over 7.8% of GDP, against $6.6 billion last year....continue
Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
Read also :-
Agriculture is the foundation of Pakistan’s economy. Almost 50% of their population is dependent on the agriculture sector.
While this year (07-08) the agricultural growth was targeted at 4.8%, the country unfortunately achieved merely 1.5%. The agriculture sector growth has fluctuated in the range of 1.5% to 6.5% during the last six years. And Pakistan’s economy is also suffering due to internal political disputes, a fast growing population and mixed level of foreign investment and costly imports of food, fuel and fertiliser. National savings were placed at 13.9% of GDP in 2007-2008, going down from last year’s high of 17.8%. Domestic savings have gone down to 11.7% of GDP from 16.16% of GDP in 2006-2007. Overall, foreign investment during the first ten months of the current fiscal year has declined by 32.2% and is now placed at $3.6 billion as against $5.3 billion compared to the same period last year. Pakistan’s current deficit extended to $11.6 billion during this year (again, first ten months of 07-08), which is over 7.8% of GDP, against $6.6 billion last year....continueSource : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
Read also :-
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