A World Bank report has contradicted the Pakistani government’s claims of economic progress in 2024. While the government maintained that inflation was under control and commodity prices were decreasing, the report reveals a starkly different reality.
According to the World Bank’s “Poverty Projections for Pakistan,” poverty in the country rose by 7% in 2024, bringing the overall poverty rate to 25.3%. This increase pushed around 13 million more people into poverty compared to the previous year, highlighting the worsening economic challenges faced by the population.
The findings challenge the government’s narrative of economic stability and improvement. Despite claims of inflation control, the rising poverty figures indicate that many households continue to struggle with affordability and access to basic necessities.
This significant rise in poverty suggests deeper structural issues in the economy. External factors, such as global inflation and domestic challenges like low growth rates and unemployment, may have contributed to this trend. The report underscores the urgency of implementing sustainable policies to address these issues and support vulnerable populations.
The situation highlights the gap between governmental optimism and the reality on the ground for millions of Pakistanis. Policymakers must prioritize reforms and social safety nets to tackle poverty and foster economic resilience.
The World Bank’s findings serve as a reminder that meaningful progress requires a focus on reducing inequalities and ensuring the economic well-being of all citizens.
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