Posted 1/13/2024, 2:07:37 AM
Pakistan Faces Bleak Economic Outlook in 2024 Amid High Inflation, Low Growth and Need for Reforms
- Pakistan faces major economic challenges in 2024 including high inflation, low growth, rising unemployment and poverty
- The country may need another IMF bailout package and austerity measures which will be painful
- Structural reforms are needed to address issues like corruption, bloated government, loss-making state-owned enterprises, etc.
- Creditors are losing patience and unlikely to provide funding without changes in Pakistan's economic policies and governance
- Political leadership with vision and capability to equitably distribute pain of reforms is critical but not evident currently