Pakistan predicted to become the Muslim World’s fastest growing economy in 2017: The Economist

[Syed1.]

Economic growth rates are just accounting numbers TBH.

Did this growth rate result in our exports rising? No
Millions of poor and hungry having a better life? No
Better health and education facilities provided? No
Better police and justice system provided? No
Better security situation and reduced threat to life and limb? No


The fact of the matter is growth rate only benefits the top 10% of the people in a country like Pakistan, more so when all your top government officials are billionaires through ill-gotten wealth.

 

[VCheng]

Economic growth rates are just accounting numbers TBH.

Did this growth rate result in our exports rising? No
Millions of poor and hungry having a better life? No
Better health and education facilities provided? No
Better police and justice system provided? No
Better security situation and reduced threat to life and limb? No


The fact of the matter is growth rate only benefits the top 10% of the people in a country like Pakistan, more so when all your top government officials are billionaires through ill-gotten wealth.

Rejoice. Pakistan did successfully test an SLCM with nuclear capability recently.

 

[hussain0216]

Congrats to Pakistan for their achievement. What about Bangladesh? We are going to achieve 7.2% for 2016-2017 and our target is to get to 7.5% for 2017-2018. (in BD financial year is July-June).

Your not really a muslim country though are you

More an extension of indian's hindu rashtra

 

[Qutb-ud-din Aybak]

it doesn't matter. China economy if develop by 3 percent will be far more than economy of any big country 7.5% growth rate.

 

[rome333]

Your not really a muslim country though are you

More an extension of indian's hindu rashtra

I see. Haters hate.....and Recism still prevails...

 

[hussain0216]

I see. Haters hate.....and Recism still prevails...

Dont blame me, blame the economist and haseena

 

[terry5]

Your not really a muslim country though are you

More an extension of indian's hindu rashtra

 

[Talwar e Pakistan]

Economic growth rates are just accounting numbers TBH.

Did this growth rate result in our exports rising? No
Millions of poor and hungry having a better life? No
Better health and education facilities provided? No
Better police and justice system provided? No
Better security situation and reduced threat to life and limb? No


The fact of the matter is growth rate only benefits the top 10% of the people in a country like Pakistan, more so when all your top government officials are billionaires through ill-gotten wealth.

It takes time and patience, change does not come overnight.

 

[Gregor Clegane]

5.3% is pretty low for a $285 billion economy, though.

 

[Jungibaaz]

Economic growth rates are just accounting numbers TBH.

Did this growth rate result in our exports rising? No
Millions of poor and hungry having a better life? No
Better health and education facilities provided? No
Better police and justice system provided? No
Better security situation and reduced threat to life and limb? No


The fact of the matter is growth rate only benefits the top 10% of the people in a country like Pakistan, more so when all your top government officials are billionaires through ill-gotten wealth.

This is the case everywhere I'm sorry to say, rarely does GDP growth give an adequate picture.
Right now Pakistan should focus on a few simple goals that require some perseverance. We can think about social and welfare reforms once we have a strong enterprising economy to base such redistribution efforts and public investment on.

The poor of Pakistan will continue suffering at the same level for at least the next decade or two. And even when the economy grows, due to no regulation, no public investment and the market liberalisation we've undergone, growth overall will also expand and form a massive void between the very rich and the poorest.

For now, I'd say focus on political and economic stability, dealing with security and energy needs, current infrastructure efforts are very good, then we'll need to bring back some FDI. When we're close to achieving all that, a robust regulatory framework will be necessary.

 

[My-Analogous]

Pakistan predicted to be world’s fastest-growing Muslim economy in 2017
By Wali Zahid
Published: January 10, 2017
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A view of the city skyline at dusk in Karachi June 24, 2013. PHOTO: REUTERS

Pakistan has been forecasted to be the world’s fastest-growing Muslim economy in 2017 ahead of Indonesia, Malaysia, Turkey and Egypt, according to London’s The Economist magazine.


Pakistan’s estimated GDP growth – 5.3% – is also ahead of 4% GDP growth of Israel. This makes Pakistan world’s fifth fastest-growing economy in the world, only behind India and China and two other countries.

The live data, which is updated twice-daily, is published on The Economist website in the form of an interactive table of economic and financial indicators. This data reinforces a Harvard University study which predicted Pakistan to grow by more than 5% in the next decade.

The 2017 forecast of 5.3% growth is, however, lower than the 2016’s 5.7% forecasted growth rate, which means Finance Minister Ishaq Dar must take steps to put economy on the path of irreversible growth.

In 2014, The Economist had forecasted Pakistan to be world’s sixth fastest-growing country.


This year, the four world economies ahead of us are: India (7.5%), Vietnam (6.6%), China (6.4%), and Philippines (6.4%). And we are ahead of large Muslim economies such as: Indonesia (5.2%), Malaysia (4.6%), Egypt (4.0%), and Turkey (2.9%).

All of these countries except Malaysia are going to be among the top 20 economies in the world in 2050.

Wali Zahid is a former journalist who now trains senior executives to improve workplace effectiveness.

I Don't think it is correct and Bangladesh is doing fine job here and they are moving with 6+ per year since very long

 

[rome333]

Sadly our Economic Indicators are Mean or Average based. What actually should have been Median based. As what the Middle of a Group does really matter. Rest are just noises. In that sense Pakistan is doing quite okey. The Middle Person is the real representative of society.

 

[Zen0]

Muslim world? Are they living on mars or somethingn

Your not really a muslim country though are you

More an extension of indian's hindu rashtra

By that logic so are you regardless how brainwashed you are

 

[SarthakGanguly]

Religion overdose.

 

[Deadpool]

I think the author is trying to say in the Islamic world.

Even there, the author would be wrong.

Bangladesh economically grew faster than Pakistan in 2016 and will also grow faster than Pakistan in 2017.

This is the case everywhere I'm sorry to say,

Incorrect. This is the case in some cases only.

Countries like Bangladesh have indeed turned their GDP growth rates to a much larger improvement in social spheres (health, hygiene, etc), compared to countries like India which fall in the same case (like Pakistan) where GDP growth has not correlated equally to a proportional rise in living standards or health standards.