The statement indicates that a large majority (91%) of the Pakistani population is experiencing financial stress, and this is not unexpected given the country’s high inflation rate, which has reached a staggering 62% per year.
The inflation and financial stress are attributed to the mismanagement of the country’s economy by Prime Minister Sharif, which has led to an economic downturn or “economic death spiral.” This situation suggests a severe economic crisis in Pakistan, which is causing significant hardships for its people.
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#PAKWatch: It's not surprise that 91% of Pakistanis are stressed about their monthly finances. Today, I measure Pakistan's inflation rate at a stunning 62%/yr. Thanks to PM Sharif's mismanagement, PAK is in an ECONOMIC DEATH SPIRAL. pic.twitter.com/xcdTSkm1Jl
— Steve Hanke (@steve_hanke) April 30, 2023