New Delhi: Pakistan, which is raging the world on Kashmir issue, is in the grip of terrible economic crisis. Pakistan is more dependent on foreign aid anyway. The UN, presenting a report, said that Pakistan is in the midst of an economic crisis. This has been said in the UN's Trade and Development Report 2019. The UN has said that Pakistan has stood in the midst of economic crisis even after getting help from China and Saudi Arabia and taking huge loans from the IMF.
In its Trade and Development Report 2019, the UN for Pakistan said, 'Pakistan stands in the midst of economic crisis. The rate of development has been halfway there. Balance of payments is in very poor condition. There has been a tremendous fall in the rupee and the external debt is very large and is increasing continuously.
In this report of the UN, it has been said that Pakistan's annual fiscal deficit has increased to 8.9 percent for the year 2018-19. The report states that this figure is at the highest level in the last 30 years. Explain that the fiscal deficit is the difference between the revenue and expenditure of the government. The growing fiscal deficit of any country reflects its poor economic condition. Let us know that Pakistan is dependent on huge financial support from China, America and Gulf countries.
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