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Inflation In Pakistan: The condition of debt-ridden Pakistan has worsened. It has become difficult for people to get the basic necessities of life. Inflation in Pakistan has already reached its peak. But now due to the increase in the prices of everyday items, inflation is again emptying the pockets of Pakistani people. Pakistan's economy is burdened with China's debt. The government has had to appeal to the IMF. The IMF has imposed strict conditions on the Pakistan government for lending money. Which has become a problem for the government. The price of flour in the country has gone up to 800 Pakistani rupees per kg and the price of oil has gone up to 900 Pakistani rupees per liter. The situation is so bad that people have to spend 25 rupees for a roti.
People are struggling even for a loaf of bread
The cost of living in Pakistan is also reaching its peak. People are facing difficulties in buying essential goods. The value of Pakistani rupee is also falling continuously. Along with food, housing, education and health are also becoming out of reach of the common man. On the other hand, the IMF is pressuring the Pakistan government to end subsidies. Despite all these dire circumstances, Pakistan has increased its defense budget by 15 percent. The Pakistani Army has been given Rs 2,122 billion for the financial year 2024-25.
Pakistan's GDP expected to remain around 3 percent
According to Pakistan's Finance Minister Mohammad Aurangzeb, the country's GDP will grow at a rate of 3.6 percent. Which is more than the figure of 3.5 percent of the previous financial year. However, experts believe that Pakistan can reach only 2.38 percent of GDP. Pakistan's total budget is Rs 18,877 billion. In this, the share of defense sector comes second.
The biggest expense of the budget is in repaying the debt
Pakistan is burdened with debt to its friend China. The biggest expense in Pakistan's total budget is debt repayment. Pakistan will have to repay a debt of about Rs 9700 billion. According to the Finance Minister, the inflation rate may remain around 12 percent. The country's tax collection is estimated at Rs 12,970 billion. To control the situation, the government has also announced the privatization of public sector companies.