Our economy has performed far below its potential due to the flawed and defective economic policies of past governments. As a result, our GDP growth is slow. Now the economy faces the risk of persistently high inflationary pressures. Inflation has hit a record high and oil prices have skyrocketed.
Trade and current account deficits are widening. More alarmingly, exports are still declining. The economy is expected to gain steam in the coming months. I believe that if the structural weaknesses of the economy are addressed properly and the long-promised reforms are finally launched then it will be the first time in the history of Pakistan that we will have genuine economic growth that is neither inflated nor borrowed.
Hashim Abro
Islamabad
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