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News Topical, Digital Desk : The condition of Pakistan, burdened with debt, is getting worse day by day. Pakistan takes loans from all over the world and instead of developing its people and country, spends it on terrorism, which the whole world has seen. The economic survey released by Pakistan has revealed that the debt has reached the highest level ever. This has deepened the crisis on Pakistan's financial situation.
Pakistan's economy is expected to grow 2.7 percent in the fiscal year ending June 2025, compared with 2.5 percent growth during the previous year. The government initially targeted 3.6 percent GDP growth but lowered it to 2.7 percent last month.
Pak government's target is to achieve 4.2 percent GDP in 2025
The IMF expects real GDP to grow by 2.6 percent in fiscal 2025 and the economy by 3.6 percent in fiscal 2026. Prime Minister Shahbaz Sharif's government targets 4.2 percent GDP. Pakistan's Finance Minister Muhammad Aurangzeb on Monday released his country's Economic Survey 2024-25.
Pakistan has said that its total debt has reached 76,00700 crore Pakistani rupees by 31 March 2025, which is the highest debt ever in its history. This debt of Pakistan has almost doubled in the last four years, as in 2020-21 this debt was 39,86000 crore Pakistani rupees, while in the last 10 years this debt has increased almost five times.
Pakistan is proving to be a laggard in GDP growth
The economic survey released by the Pakistan government states that Pakistan's GDP growth for the first quarter of the financial year 2025 will be 1.37 percent, 1.53 percent in the second quarter and 2.4 percent in the third quarter. This is the third consecutive year when Pakistan's GDP growth will be very low. Pakistan extends its hands to international organizations as well as friendly countries to ask for relief packages.
Pakistan's Prime Minister Shahbaz Sharif even said that when we go to any friendly country or call them, they think that we have come to them to ask for money. India has been raising this issue before the IMF and the World Bank that Pakistan is misusing the aid it receives from all over the world to fulfill the objectives of terrorism against India.
According to the World Bank, India has lifted a record number of its people out of poverty. On the other hand, about 45 percent of Pakistan's population is living in poverty, while 16.5 percent of people live in extreme poverty.
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