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South Asia’s Weakest Economy
January 22 , 2023
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- As per the World Bank data, Pakistan is South Asia’s weakest economy.
- The country’s economic growth will slow further to 2 per cent during the ongoing year.
- This will mark a drop of two percentage points from its June 2022 estimate.
- Floods in Pakistan in July last year was cited as the main reason for the uncertain economic situation in the country.
- Pakistan’s forex reserves have hit a new low of USD 4.6 billion that would be barely adequate to pay for foreign bills for three weeks.
- Wheat prices have surged over 57 per cent, while the cost of wheat flour also saw an increase of 41 per cent.
- A 15kg flour bag is being sold for Rs 2,050 in Pakistan.
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