Pakistan’s Economy Turned Out to be a Pleasant Surprise: Bloomberg

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An article published in American business magazine, Bloomberg has cited Pakistan as having the most underrated economy and is a pleasant surprise! 

Financial expert, Tyler Cowen has chosen Pakistan as the most underrated economy, earlier he had picked Mexico, Germany, and Philippines.

Following were major highlights of his report:

  •  Economic growth rate of Pakistan has improved which shows that the country is now moving towards economic progression.
  • Back in 2001, not many experts were optimistic about Pakistan’s economic development. But within 17 years, Pakistan managed to defy the odds and showed a promising growth
  • Within the last three years, deaths caused by terrorist attacks have decreased by 65% while the poverty rate has fallen by almost 50%
  • Within 4 years the Pakistan Stock Exchange has gained a whopping 46% in 2016 and is still in a continuous growth.
  • Pakistan’s Gross Domestic Product (GDP) has also increased by more than 4%.
  •  The inflated debt to GDP ratio of 60% has now cleared the adjustment program by the IMF and the country is now in a stable position.

The report also says:

“Pakistan’s growing middle class, which will expand from an estimated 40 million people today to 100 million people by 2050, represents a powerful engine for change, demanding both improved services and greater access to opportunities.”

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