Farahnaz
With each passing day, Pakistani economy tends to get lower due to extreme deficit in current account. The deficit in January-2022 was recorded to be $2.55bn. Nevertheless, there are numbers of factors that drag Pakistan to this situation. It is mainly due to abundance of imports , unpaid debt checks and etc. Additionally, the state bank of Pakistan estimates the rise of deficit near 9% . Another fact that compounds in this misery is the reduction in foreign currency reservation due to a large number of imports. Surely, economy , eing the backbone of a country is highly significant and attention-worthy. If soon situations are not taken control of, Pakistan have high chances of suffering a devastating economic crisis. As a developing country Pakistan cannot afford to face any kind of troubles in economy. Therefore, emergency steps are to be taken to cool down the tension in current account and structural reforms are also required for long term stability.
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