In order to stabilize the nation’s unstable economy, the World Bank has produced its Pakistan Development Update Report, which emphasizes the critical necessity for political agreement and the effective execution of the IMF program.
The report’s most concerning result is the rising poverty rate, which is predicted to reach 40.5% this year. As per the research, 40.2% of people lived in poverty in 2023. The World Bank blames Pakistan’s rising inflation, diminishing salaries, and sluggish economic growth for this increase.
With only 160,000 new job vacancies annually, the nation is unable to absorb the 3.5 million additional people who are scheduled to enter the workforce over the next two years. This indicates that employment options for the country’s rising youth population remain inadequate.
