Pakistan In Economic Crisis: Pakistan is passing through an economic crisis. The situation is that here people are also craving for basic needs. Stampede-like situations arising during free ration distribution are common there. In such a situation, the question arises as to how such a pathetic condition of Pakistan happened, why the neighboring country is going through the worst phase of its history.
In fact, along with the working style of the Government of Pakistan, the floods that came there have broken the back of the economy of this country. Troubled Pakistan has become the largest recipient of projects funded by the Asian Development Bank (ADB) in the year 2022. Asian Development Bank has given this information in one of its reports.
Pakistan became the largest borrower country
Releasing its annual report on Monday (April 24), ADB said that in the year 2022, 40 countries had taken a loan of $ 31.8 billion. In this, Pakistan alone took the maximum loan of $5.58 billion. Pakistan’s system had collapsed due to the flood. In such a situation, the need of Pakistan’s loan kept on increasing.
According to a report of Geo TV, the Asian Development Bank has also accepted that the condition of Pakistan worsened due to floods. Flood worked to weaken Pakistan economically. The crops of the farmers got ruined due to the flood. Because of this, the food supply in the country was affected and there was a tremendous increase in inflation. At the same time, according to the annual report of ADB, in these circumstances, in the year 2022, Pakistan received maximum funds.
effect of flood in pakistan
According to Geo TV, $1.5 billion was given to Pakistan for flood affected areas. Due to this flood, the country suffered a loss of about 30 billion dollars. It killed 1,730 people and affected 33.3 million people. Because of this, the economy of Pakistan was completely destroyed due to the flood. Now the situation is that Pakistan is requesting help from its friendly countries.
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