Pakistan economy's situation

 The economy of Pakistan has faced several challenges in recent years. The country has struggled with high inflation, a large trade deficit, and a growing budget deficit. The COVID-19 pandemic has also had a significant impact on the economy, leading to a decline in economic activity and increased pressure on the country's balance of payments.

 

Pakistan's current account deficit has widened considerably in recent years, and the country's foreign exchange reserves have also come under pressure. The government has been seeking financial assistance from international organizations, such as the International Monetary Fund (IMF), to help stabilize the economy.

 

The government has also been implementing economic reforms to address these challenges, such as increasing tax revenues and reducing government spending. The government is also working to improve the business environment in the country and to attract foreign investment. Despite these efforts, the economy of Pakistan remains fragile, and the long-term outlook remains uncertain.

 

The GDP growth rate of Pakistan was 2.9% in 2020 and it is expected to recover with a growth of 2.8% in 2021 according to the World Bank. The agriculture and services sector are expected to recover in 2021 while the industry and construction sectors will remain weak.

 

Overall, the current situation of Pakistan's economy is challenging but the government is taking steps to stabilize it and to revive the economic activity in the country.