Pakistan is in the midst of perhaps the most severe crisis it has faced since 1971. The political economy had been ripped to shreds through self-inflicted wounds, its international stature was down in the dumps and if the country was listed in the stock market, its stock would be categorized as a penny stock. The first and perhaps most important pivot must be made in the domain of foreign policy. Pakistan's economic freedom score is 48.8 making its economy the 15 3rd freest in the 2022 index.

Pakistan is ranked 34th among 39 countries in the Asia Pacific region, and its overall score is below the regional and world averages. Pakistan's economy slowed in 2019 and contracted in 2020. Growth resumed in 2021. And the current economy of Pakistan is $1.512 trillion CPPP, 2022 est) surly in 2022, the Pakistan rupee plunged nearly 30% compared to the US dollar, becoming one of the worst-performing currencies in Asia. Pakistan's economy is in trouble and it is making some desperate moves to ensure it doesn't crash. And Pakistan GDP growth rate for 2021 was 6.039, and 7.36% increase from 2020. Pakistan's economy is currently trapped in low growth, high inflation and unemployment, falling investment, excessive fiscal deficits, and a deteriorating external balance position.

Therefore, Pakistan should aim to improve the livability of its cities and provide access to, quality public services such as effort able housing, reliable water supply, and other public services.

 

 

By: Sadia Noor Haji Ali Bakhsh

Kech Balochistan