The economic recession in Pakistan is an ongoing issue that is causing a lot of concern for the citizens of the country. The economy of Pakistan has been facing a severe downturn since 2018, and the effects of this recession are still existing in current time.
The main cause of the economic recession in Pakistan is attributed to poor economic policies and a lack of proper oversight. The government has failed to implement reforms that could have helped the economy recover from the financial crisis. As a result, the country has been unable to attract foreign investments and has experienced a sharp decline in its GDP.
The economic recession in Pakistan has been accompanied by a rise in unemployment, inflation, and poverty. The number of people living in poverty has risen significantly since the start of the recession, with estimates suggesting that around 40 percent of the population is now living below the poverty line. Furthermore, inflation is at an all-time high and the cost of living is increasing day by day.
Solution to the Problem of Recession
In order to address the issue of economic recession in Pakistan, the government must take steps to promote economic growth and development.
The government should focus on creating more jobs and reducing the cost of living. Additionally, the government should also work towards improving the country’s infrastructure and encouraging foreign investment.
The economic recession in Pakistan is a serious issue that needs to be addressed urgently. It is essential that the government takes steps to improve the economy and provide relief to the citizens of the country.