Pakistan’s GDP (in purchasing power parity terms) grew from $699 billion in 2008 to $991.9 billion in 2017 at an average of 4 per cent per year despite the global financial crisis of 2008-09 and the war on terror, said Yousuf Nazar.
Among the largest 50 economies of the world, Pakistan's growth rate during that period ranked 17th, Yousuf said, adding, “This negates the view of many in Pakistan that the economy was destroyed.”
He said despite his criticism of some policies of both Asif Ali Zardari and Nawaz Sharif, there was a strong evidence to say that the PPP stabilised the economy and the PML-N built on it. “Both could have done better had it not been for the internal destabilisation by the establishment,” he noted.
In a series of tweets, he said, “It [the figures] supports the view that if peace and democracy are given a chance, political stability can produce better results.”
To prove his point, Yousuf cited the example of Thailand and Egypt. Thailand, which had a coup in 2014, fared worse than Pakistan and Asia during 2008-17. “During this period, Thailand’s economy grew at an average of 3.2%.”
Another coup-prone country Egypt also fared worse than Pakistan during 2008-17 with an average growth rate of 3.5 per cent, he said. It’s time Pakistan politicians and media talk facts, Yousuf stressed.
Among the largest 50 economies of the world, Pakistan's growth rate during that period ranked 17th, Yousuf said, adding, “This negates the view of many in Pakistan that the economy was destroyed.”
He said despite his criticism of some policies of both Asif Ali Zardari and Nawaz Sharif, there was a strong evidence to say that the PPP stabilised the economy and the PML-N built on it. “Both could have done better had it not been for the internal destabilisation by the establishment,” he noted.
In a series of tweets, he said, “It [the figures] supports the view that if peace and democracy are given a chance, political stability can produce better results.”
To prove his point, Yousuf cited the example of Thailand and Egypt. Thailand, which had a coup in 2014, fared worse than Pakistan and Asia during 2008-17. “During this period, Thailand’s economy grew at an average of 3.2%.”
Another coup-prone country Egypt also fared worse than Pakistan during 2008-17 with an average growth rate of 3.5 per cent, he said. It’s time Pakistan politicians and media talk facts, Yousuf stressed.