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The inflation reaches at the record level in Pakistan

Thursday - May 23, 2019 4:29 pm , Category : BUSINESS
The economy of Pakistan being ruined?
The economy of Pakistan being ruined?

The lack in the foreign investment in Pakistan, the economy of Pakistan at the verge of being ruined!

MAY 23 (WTN) - As a failed country in the whole world, the economic condition of notorious Pakistan is not hidden from anyone. Due to its own policies, Pakistan's economy has reached at the edge of being ruined. Pakistan's financial condition has become that Pakistan has to take a bailout package from the IMF to avoid the waste situation, and after the bailout package; Pakistan's people will have to face the inflation and heavy taxation.

Pakistan, which has spent its entire energy in spreading terrorism in India, has always had great faith in China. That's why, because from time to time, China has provided economic support to Pakistan. But as you know, the expansionist China is a communist country, but its foreign policy is looked like bourgeois. China holds political and trade relations with the same country where it looks profitable.

But Pakistan's friend China is now making a gradual distance from Pakistan. For your information, let you know that China's investment in Pakistan has reduced by 72 percent recently. The reduction in China's investment has set a huge impact on the people of Pakistan. Not only in China's investment in Pakistan, but also a huge decline in foreign investment has also been recorded. For your information, let you know that there is 42.6 per cent fall in foreign investment in Pakistan, and it has fallen to the lowest level of three years.

Here, Pakistan's top bank State Bank of Pakistan, has issued a warning after expressing concern over Pakistan's economy. This warning has been issued by the State Bank of Pakistan on IMF $ 6 billion bailout package. It is being said that the economic condition of Pakistan can become more complicated by the bailout package from the IMF, because its interest rate may be even higher.

For your information, let you know that the Pakistani rupee is getting weakened against the dollar every day. The condition is that in March, the inflation rate in Pakistan was at 9.41 per cent which was at the top on the last five years. In the month of April, it was recorded 8.8 per cent. Because of the consistent weaken of rupee against the US dollar; every section of Pakistan is facing the inflation.

Compared to exports in Pakistan, the import is much higher. In such a situation, Pakistan has to spend more on imports due to increasing in the value of the US dollar. If the dollar went steadily expensive, then Pakistan's economic situation could worsen even more.

Clearly, inflation is steadily rising due to the constant decline of Pakistani rupee against the US dollar. At the same time, due to the ongoing expectations of inflation in the future, fiscal deficit is also going to increase. Here is the reason for which the prices of goods are rising in Pakistan. Now while the investment of other foreign countries along with China is also declining in Pakistan. It is decided that if Pakistan does not reform its economic policy at the time, then the economy of Pakistan will soon be disintegrated.