Bangladesh left Pakistan behind in all sectors of economy in 2023-24: Report

Islamabad: Bangladesh left Pakistan behind in all sectors of the economy in 2023-24, Pakistan vernacular media Daily Jang reported, adding that the country presented a budget of USD 71 billion and a growth rate of 7.5 per cent whereas Pakistan's growth rate is only 3.5 per cent and inflation cost is 21 per cent.

The Daily Jang is an Urdu newspaper headquartered in Karachi, Pakistan. Bangladesh has almost USD 31 billion in reserves for the new fiscal year whereas Pakistan has less than USD 4 billion and, that too, with loans from friendly nations, the report claimed.

Bangladesh's exports have reached USD 52 billion in 52 years after independence whereas Pakistan's exports are still at USD 31.78 billion, it added.

Bangladesh's export target in the current year is USD 67 billion while Pakistan's is USD 38 billion, it noted further, adding that as per the statistics, Pakistan is able to provide export and services only upto 21.5 billion dollars which is very less than the target.

Meanwhile, Geo News recently reported that Pakistan is reeling under one of its worst economic and political crises, impacting the masses. The debilitating fiscal crises have gripped the country despite the efforts of the coalition government led by Prime Minister Shehbaz Sharif to avert the same.

Pakistan's Ministry of Finance has warned of challenges originating from uncertain external and domestic economic environments, including higher inflation and external debt repayments, due to lesser foreign exchange inflows, Geo News reported.

The ministry, in its monthly outlook bulletin, projected inflation for the month of May to remain in the range of 34-36 per cent.