Pakistan Bangladesh Economy: The people of Pakistan and Bangladesh are facing the threat of poverty. According to the World Bank report, the economy of Pakistan and Bangladesh is in big crisis. If the situation does not improve soon, then about one crore people in Pakistan and more than 10 lakh people in Bangladesh will go below the poverty line. In its biennial report, the World Bank has predicted Pakistan's economic growth rate to be only 1.8 percent and inflation to be 26 percent. On the other hand, the poverty rate in Bangladesh is estimated to increase to 5.1 percent.
Poverty rate in Pakistan expected to be 40 percent
The World Bank has said in its report that Pakistan is facing a big cash crisis. This country may fail to achieve all its economic goals. Despite getting help from the International Monetary Fund (IMF), there is no hope of any significant improvement in Pakistan's economy. Such economic conditions and rising inflationary pressure can push people below the poverty line. The poverty rate in the country is expected to be around 40 percent. At present, about 9.8 crore Pakistanis are trapped in the quagmire of poverty. Now one crore more people can get trapped in this vicious cycle.
Cost of living has increased, food security is also difficult
According to the World Bank, agricultural production is expected to increase in Pakistan. But, the report says that due to high inflation and negligible salary increase in almost all sectors, it does not seem to be of much benefit. The increasing cost of transport, school fees and medical treatment in the country is putting families in trouble. The efforts being made by the government in the country are proving inadequate. Besides, food security also seems to be in trouble.
Inflation is breaking the backs of people in Bangladesh
On the other hand, about 10 lakh people in Bangladesh are expected to reach the poverty line. The World Bank has estimated their daily earnings to be less than $3.65. Of these, about 5 lakh people may be trapped in extreme poverty. The inflation rate in Bangladesh is estimated to be 9.6 percent. It is going to be very costly for the public to bear this pressure.
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