It appears that despite world’s expectation of Pakistan in the realm of economic growth, Pakistan seems to slowly moving up the ladder with its recent progress in the stock market. One of the top-notch financial assessment firms, Bloomberg, recently reported that the country’s economy is progressing on a fairly positive trend and is appearing as a pleasant surprise to investors and market-critics.
The article which itself is titled, Pakistan Economy Is a Pleasant Surprise, published on Monday, delivers a detailed insight and analysis of the country’s economy. It is pretty obvious that Pakistan does not have a flattering image in the world due to volatile security situations, poor education, and stagnant corruption.
However, over the past few years, country’s economy has made huge strides on the back of unified Pakistan bourse which surged by 46% during the past year, following a rise in foreign investments and a drop in street crimes. Hence, it wouldn’t be wrong to say that Pakistan has defied all the odds and has shown that it has the potential to position itself as a promising market globally.
The writer, Tyler Cowen, wrote that due to several horrific incidents in the past, Pakistan has an overall bad reputation in the world as a country. However, it is certainly one of the most promising countries in the globe. This information alone is sufficient enough to present a promising image of the country in future.
Pakistan’s GDP has witnessed a growth by 4% recently with the poverty rate dropping almost by a half within the past 15 years. The report also mentioned that Pakistan is nowhere near foreign-exchange crisis, but is working to refill its monetary reserves.
During the past few years, the country’s economy has achieved many landmarks. For instance, the country was recently given ‘Emerging Market’ status after Pakistan Stock Exchange (PSX) made its way to Asia’s best performer. Also, it was recently reported that PSX crossed its 47,000 mark and many other countries like Middle East, Italy and China are planning to invest in Pakistan.