Pak in financial crisis despite IMF loan, aid from China, US: UN

Pakistan as a nation continues to face ecomic crisis, as per United Nations. Despite huge loan from International Monetary Fund (IMF), and support from its all-wear friend China as well as Saudi Arabia, UN has said that country is facing a financial crisis, says an ANI repory. UN's Tre and Development Report 2019 under its Asia section me a brief comment on ecomic situation in Pakistan. report says that Pakistan is in midst of a crisis.

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UN report states Pak amid financial crisis

UN Report states that, "Pakistan is in midst of a crisis"  It ds that growth rate of country has halved and that balance of payments is in poor shape. It also says that Pakistan's currency Pakistani rupee has depreciated significantly and that external debt is large and rising. It ds that a slowdown in China's rate of growth increased from 2017 will increase in 2019 owing to tre and techlogy tensions. 

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China's reducing growth rate affecting Pak

report says that slowing down of China's growth has a major impact on or East Asian and South-East Asian ecomies. It says that integrated value chains spre across se ecomies and linked to China would be disrupted. report furr stated that public banking should be given back its tritional, bigger role if environmental and ecomic landscape is to be transformed by 2030. 

annual fiscal deficit of Pakistan rose to highest in last three deces at 8.9 per cent for financial year 2018-19. fiscal deficit is a difference between revenues and expenditures of federal government.

Pakistan Prime Minister Imran Khan, who was elected on an anti-corruption plank and a pledge to end austerity measures, h vowed to improve depleting ecomic situation of cash-strapped country

. In reality, prices of gas and oil products and electricity in Pakistan have risen considerably, burning a hole in common man's pocket

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(Inputs from ANI)

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