If any further proof were needed of this PTI government’s economic incompetence, it was brought out in @GeoASKKS - which ran the claimed vs actual growth figures for the last 7 years.
Whereas since 2013, the claimed vs actual growth figures varied at most by 3-5% - sometimes actual were in fact more than the initial govt claims - in PTI’s first year (2018-2019), the actual figures have turned out to be 42% (!!!) less than what the govt had claimed.
Not only has the National Accounts Committee revised the growth figures for 2018-19 from the 3.3% claimed earlier by the govt to 1.9%, it has also endorsed the PMLN’s claims of growth being 5.5% in 2017.
So, basically PTI brought growth down from 5.5% to 1.9% in just one year. That’s a massive recession. And this was way, way before the Coronavirus pandemic hit. This year, govt is projecting a negative growth of -0.38%, though observers think it will be far lower.
This will be the first time since 1952 (68 years!) that Pakistan will have negative growth. It’s also known as a Depression (rather than simply as a recession.)
But the real depression must be what those who brought PTI to power and still prop them up must be feeling.
But the real depression must be what those who brought PTI to power and still prop them up must be feeling.
