Sunday, July 14, 2024

Over 31% Graduates Currently Unemployed in Pakistan

Pakistan Institute of Development Economics says that over 31% of Pakistan’s youth are currently unemployed, out of this, 51% are females, and 16% are males, with many of them holding professional degrees.

Federico Giuliani, writing in Insideover said that the poor state of Pakistan’s economy, which suffered in the aftermath of the outbreak of the COVID-19 pandemic was compounded by inefficient economic administration by the PTI government under PM Imran Khan.

The current account deficit has officially reached 5.3 percent of GDP. Fiscal imbalance is expected to rise to 8.2 percent of GDP.

The Pakistani rupee has also taken a pounding, losing 12 percent to the dollar since July 2021. Thus, to put it mildly, the economy is virtually bankrupt.

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