News Snapshot:
A forgettable year for Pakistan’s economy 1 January 2021 Author: S Akbar Zaidi, Institute of Business Administration, Karachi Like almost every country around the globe, Pakistan’s economy suffered in 2020. The GDP growth rate for fiscal year 2019–20 was –0.4 per cent — the first time it fell negative in seven decades. Per capita income fell from US$1625 to US$1325. COVID-19 closures and lockdowns to limit the spread of the virus are also contributing to growing unemployment and poverty. But GDP growth was only 1.9 per cent in fiscal year 2018–19, falling from a decade-high 5.8 per cent the previous...
