Renowned economist Atif Mian has sounded the alarm on Pakistan's economic woes, declaring the nation "bankrupt" and sinking further each year.
Mian, a professor of Economics at Princeton University, minced no words, stating, "Pakistan's economy has consistently fallen behind globally." He pointed to a litany of issues including inflation, stagnant growth, soaring debt, and insufficient investment, asserting, "Every macro fundamental is flashing red."
Mian lambasted the government's inability to generate revenue, bluntly noting, "It cannot even afford to pay the salary of a peon or a soldier without borrowing." His remarks come amidst a widening gap between the ruling elite and the populace, with Mian criticizing political leaders for their failure to address economic challenges. Expressing frustration, he added, "Yet no leader has a viable economic plan for the future."
The aftermath of the recent general elections has only exacerbated the situation, with Mian highlighting the urgent need for action. "The country is bankrupt," he warned, "It is sinking deeper every year."
As Pakistan teeters on the brink, urgent action is needed to avert further catastrophe and chart a path towards sustainable growth.