This is apropos a Business Recorder news item "ADB highlights economic vulnerabilities" carried by the newspaper yesterday. The Asian Development Bank (ADB) in its Outlook 2017 has said that in Pakistan, growth has improved, but the government of Pakistan needs to address fiscal and external sector vulnerabilities that have reappeared with the wider current account deficit, falling foreign exchange reserves, rising debt obligations, and consequently greater external financing needs. According to it, "Political uncertainty heightened following the Supreme Court decision in August to disqualify for office the Prime Minister elected in 2013. Calm has returned, and his party will continue to lead the government until new Parliamentary elections due by the third quarter of 2018. Still, possible loss of momentum for making policy decisions may hamper growth prospects."
That the ADB is concerned about political volatility in the country is a fact. All of its concerns are quite legitimate. Not only is the Sharif family in the middle of a storm, the so-called economic czar of PML-N government, finance minister Ishaq Dar, is also facing testing times. His indictment by an accountability court will not augur well for country's economic prospects.
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