8.Fundamental problems in the economy of Pakistan
Economy of Pakistan is unstable at best at the moment. Current account deficit had widened to staggering $ 18 billion (5.7% of GDP) at the end of FY 2017-18. It was largely due to soaring imports level and shrinking exports. Similarly, Country's fiscal deficit hit a five-year high or 6.6 percent of the Gross Domestic Product (GDP) as it was Rs 2,260 billion in absolute terms for the recently-concluded fiscal year of 2017-18 against the targeted 4.1 percent in the budget. Federal Board of Revenue collected revenue of 5228 billion . And total state expenditures stood at whooping $7488 billion. The biggest challenge to the country is the surging external debt which is about to cross the $100 billion mark in a few months. Annual economic growth It was more like a bolt from the blue for the citizens who were being assured by the previous government that the economy had been put on the path of a sustained growth and it had acquired the foundation to withstand any...