Economy of Pakistan - Essay Example

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Economy of Pakistan

Country also faces the problems of illiteracy, and charges of Fiscal ineptitude. But despite such decelerating factors, Pakistan is on the path of growth with the new government of President Musharraf continuing with a reformist economic agenda, assisted by support from multilateral institutions. Pakistan's economic performance appears to be improving gradually. A thaw in the relations with India is also helping the country in economic progress. In the 2007 country profile Country-Watch points out that Pakistan is a developing nation with agriculture accounting for about 25 percent of its GDP, employing about 45 percent of the people (101). In recent years agriculture is declining as a percentage of total output with other economic activities picking up as well, but still agriculture sector remains the primary economic activity in Pakistan. A high annual population growth rate of two percent not matched with equal rise in opportunities and resources for the country, is also proving to be a big drain on its economy. Growth of economy and business prospects in a country depend mainly on., macroeconomic factors, political stability, economic liberalization, human resource development index and levels of corruption in the country. ...Show more

Summary

Pakistan is a prominent country in South Asia. Particularly during the last couple of years, it's been in crucial ally of America in fighting against the Talibans and the forces led by Osama Bin Laden. But, the irony with Pakistan is that ever since its formation in 1947, it's been in news for all the wrong reasons…
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