Pakistan’s economy faces challenges in achieving sustainable growth, with a GDP growth rate averaging below 5% over the past five decades. The country struggles with macroeconomic imbalances, including fiscal and current account deficits, and inflation rates averaging 10.4% over the past two decades. Investment-to-GDP ratio has declined since1992, and public expenditure on health and education has decreased. Social indicators, such as literacy rate and human development index, remain low. To address these issues, policymakers must prioritize reform initiatives, including institutional autonomy, policy transparency, and human capital development, to foster sustainable growth and improve living standards.
12 September, 2024
By Dr. Wasim Shahid Malik and Muhammad Shuaib Malik