If the situation in pakistan becomes like this, that's all..!?

As the world begins 2023 with a lot of fear, pakistan has been put in a very bad position as the country fears when the country will declare a recession. Pakistan's Consumer Inflation Index rose to an unexpected 24.5 percent in december from 12.28 percent in the same period last year. In the announcement made by the pakistan Statistical Organization, Pakistan's inflation doubled in December. Pakistan's economic and financial condition has not only been in a very bad state for the past 2 years, but the country is stuck without money even for its basic needs, while the IMF, China, and saudi arabia provided more loans, but with the help of financing, the flood in pakistan caused huge losses to the country. Thus all the hard-earned financial support was lost.In this situation, since the price has been continuously increasing for the last 3 months, the situation has developed that it will soon be pushed into recession. Meanwhile, Pakistan's retail inflation has risen to 24.5 percent in december, according to the pakistan Statistics Authority. It was 23.8 percent in November, compared to just 12.28 percent in december last year. But the month-on-month growth in december grew by 0.5 percent, compared to 0.8 percent growth in November. Pakistan's Ministry of Finance had already forecast inflation to be between 23-25 percent in December.

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Sowmiya Sriram

03/01/2023 06:17 PM