Its been a long time Pakistan economic situation is getting worse day by day. International Investment was dropping down. In order to compensate and improve Pakistan economy price of everything increase. A recent report by Moody’s turned everything in favor of Pakistan economy growth.
Recent Moody’s report Pakistan 2019
Moody’s just took Pakistan rating out of negative economic list. However, concerns shown in Moody’s report are as follows reported by Shahzaib Khanzada in his program:
- External pressure due to current account deficit.
- Continuous decrease in foreign Exchange. Even no Expectations in improvement of foreign exchange in near future.
- Decrease in foreign exchange cause decrease in paying debt. Imports needs to reduce in order to increase pay debit. Less foreign exchange cause low economy.
- Pakistani Official progress is too low but economical progress is average.
- Current Account deficit increased from 2013 in 2016.
Improvement in moody’s Pakistan rating
Some good changes in Pakistani economy also took place. Here are the list of improvement sectors in Pakistan according to Moody’s report Pakistan as reported by Shahzaib Khanzada in his program.
- Power Supply
- National Security
- Exports increase by 4.8% from 437 millions dollars to 9.5 billion dollars
Pakistan long term position will be good but Pakistan have to face short term problems. Improvement in power supply, national security and infrastructure improves Pakistan growth prospect and business growth in Pakistan. CPEC projects are also playing important role in economical growth of country.
PMLN role in positive report of Pakistan by Moody’s
PTI government decided to audit all power projects including CPEC projects installed under the government of PMLN for check corruption perspective in these projects. However, in a recent interview to BBC Asad Umar gave a brief Pakistani side opinion and clarify that all the projects under CPEC installed in a legal and by corruption free organized policy.
PTI representative about power supply negates government of PMLN projects as non planned projects. According to him these projects are providing non required extra energy. PTI government planned to invest in electricity and reduce travelling cost for utilizing all these sources.
Public is appreciating government for this improvement in Pakistan economy.
Here goes tweet from Asad Umar about Moody’s report.
Moody's acknowledges success of stabilization measures and upgrades Pakistan outlook from negative to stable. Should help improve access to financing and reduce its cost
— Asad Umar (@Asad_Umar) December 2, 2019
PTI official twitter page also put tweet about Pakistan Economy Growth.
When PMLN left a record high Current Account Deficit which almost led Pakistan to default in 20 days; had it not been for our friendly nations who helped us in August 2018, Moody’s rated Pakistan’s rating to Negative. In 1 yr, we’ve turned it around. ✅✅✅
— PTI (@PTIofficial) December 2, 2019