Bloomberg reports that Pakistan’s economy had its best performance in three decades during the tenure of former PM Nawaz Sharif

Bloomberg Economics’ examination of Pakistan’s economic performance spanning the last three decades highlights significant progress achieved during Nawaz Sharif’s tenure, particularly under the auspices of the Pakistan Muslim League-Nawaz (PML-N). The evaluation employs a “misery index,” a composite measure amalgamating inflation and unemployment rates to assess economic conditions.

The results indicate that the PML-N has outpaced major political rivals, including Imran Khan’s Pakistan Tehreek-e-Insaf (PTI) and Bilawal Bhutto Zardari’s Pakistan Peoples Party (PPP). Despite facing legal challenges and imprisonment, Imran Khan maintains a robust 57% approval rating, showcasing his enduring popularity. Noteworthy is Nawaz Sharif’s resurgence in popularity, escalating from 36% to 52% in the past six months, reflecting a growing public endorsement of his policies.

Nevertheless, the report emphasizes challenges awaiting the incoming government, irrespective of political affiliation. Lingering concerns about high inflation and unemployment rates necessitate strategic policy interventions to stabilize the economy. The urgency of obtaining a financial bailout from the International Monetary Fund (IMF) underscores the need to address fiscal vulnerabilities promptly.

Additionally, the analysis acknowledges the potential requirement for unpopular measures, such as subsidy withdrawals and tax hikes, to navigate the economic landscape effectively. While crucial for fiscal sustainability, these policy decisions may encounter public resistance, demanding adept political maneuvering.

As Pakistan stands at a critical juncture, the analysis serves as a valuable compass for comprehending the economic trajectory, underscoring the importance of skilled governance in addressing the nation’s challenges. Striking a balance between economic stability, public sentiment, and international financial cooperation will be pivotal for the upcoming government to navigate the intricacies outlined in the Bloomberg Economics report.

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