Pakistan suffers 1st economic decline in 68 years due to Covid-19 pandemic ...United Arab Emirates

While 2020 was projected to be a breakthrough year for Pakistan, the global coronavirus crisis has hit the country’s economy hard, causing its first contraction since 1951-52. Coupled with currency devaluation, the economic contraction has caused the size of the economy to slip to around $265.6 billion from $280 billion a year ago. According to the National Accounts Committee (NAC), GDP is projected to have a negative growth rate of 0.38 percent during the fiscal year 2019-20 ending on June 30. The estimates are based on six to nine months provisional data projected for the whole year and adjusted for the impact of Covid-19 followed by

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