News Snapshot:
While there is no single definition of recession, it is generally defined as a significant decline in economic activity that lasts for months or even years. Most experts declare a recession when a nation’s economy experiences negative gross domestic product, rising levels of unemployment, falling retail sales, and contracting measures of income and manufacturing for an extended period of time. In Pakistan’s case, the dangerously fragile currency, high-risk premium in international financial markets, a high debt burden and the recent shock of the devastating floods add to our sad story of economic downturn. Expensive imports and a softening in global...
