A Bloomberg analysis on Pakistan’s economy claims that despite a recent decline in the country’s inflation rate, the country’s economic crisis is still getting worse.
Although inflation has somewhat declined, the research states that it is still the greatest in comparison to other Asian nations, severely taxing the already vulnerable population of the country.
It stated that in order to meet the requirements for a new loan program from the International Monetary Fund, the government was forced to raise energy costs. The article also mentioned how Pakistani residents already struggling with inflation now face additional costs as their electricity rates have increased significantly more than their housing rent.
Bloomberg went on to say that although the administration is implementing economic reforms, people are revolting against the hefty tariff hike and other measures.
