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Summary The economy of Pakistan goes in the state of turmoil
(Web Desk) — Due to mounting foreign debt and deficit in the exports, Pakistan is facing acute shortfall of revenues, says State Bank of Pakistan (SBP).
According to the SBP, foreign reserves have declined to USD 20.28 billion after the fall of 15 million dollars. Moreover, the reserves of State Bank are decreased to 30 million dollars. However, the reserves of the banks increased 15 million dollars.
With reference to the renowned economists, by dint of declining foreign aid, remittances, and investments, foreign debt will be hiked further. This might also eventually hit foreign reserves.
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