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Economy of Pakistan

in Dies ist ein Forum in der Kategorie 01.11.2022 14:24
von LoganGibson • 3 Beiträge

Pakistan is considered a developing country. A nation's level of development is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality and quality of life. As a developing country, Pakistan may not be able to provide consistent social services to its citizens. These social services can include things like public education, reliable health care, and law enforcement. Citizens of developing countries can have a lower life expectancy than citizens of developed countries. Every year, Pakistan exports about US$25.05 billion and imports about US$39.27 billion. 4% of the country's population is unemployed. The total number of unemployed in Pakistan is 8,032,553. In Pakistan, 29.5% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Pakistan is quite high, but nothing to worry about in terms of investments. Potential lenders should look at other economic indicators, including GDP, the rate of urbanization and the strength of the currency, before making investment decisions. Government spending on education is 2.7% of GDP. The country's Gini index is 29.6. Pakistan experiences a high level of equality. The income differences between citizens are only slightly significant. Pakistan has a Human Development Index (HDI) of 0.537. Pakistan has an upper middle HDI score. This suggests that the majority of citizens will be able to lead a desirable life, although some citizens will not be able to attain a high standard of living. The Global Peace Index (GPI) for Pakistan is 3,049. The Index of Strength of Legal Rights for Pakistan is 3. Overall, it is considered rather insufficient - bankruptcy and collateral laws can protect the rights of borrowers and lenders to some extent; Credit information may be sufficient but scarcely available, or conversely, available but not sufficient.

Currency
The currency of Pakistan is the Pakistani Rupee. The plural form of the word Pakistani rupee is rupees. The symbol used for this currency is ₨, abbreviated as PKR. The Pakistani rupee is divided into paisa; There are 100 in a rupee.

Credit rating
The Credit Depth Index for Pakistan is 3, which means that the information is usually insufficient but can still provide a degree of clarity; Accessibility is still a big issue. According to the rating agency S&P, Pakistan has a credit rating of B- and the prospects for this rating are positive. According to the rating agency Fitch, Pakistan has a credit rating score of B and the prospects for this rating are stable. According to the rating agency Moody's, Pakistan has a credit rating of B3 and the prospects for this rating are stable.

Central bank
In Pakistan, the institution that manages the state's currency, money supply and interest rates is called the State Bank of Pakistan. Locally, the Central Bank of Pakistan is called بینک دولت پاکستان. The average interest rate on deposits offered by local banks in Pakistan is 7.3%.

National debt
Pakistan has a public debt of 26.8% of the country's gross domestic product (GDP) as estimated in 2012.

Tax information
Corporate tax in Pakistan is 35%. Personal income tax ranges from 7.5% to 35% depending on your specific situation and income level. The VAT in Pakistan is 17% and is known as sales tax.


https://www.confiduss.com/en/jurisdictions/pakistan/economy/

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