CURRENT AFFAIRS

Detailed explanation-1: -Which South Asian nation has the poorest economy, according to the World Bank? Notes: Pakistan’s need for relief at USD 33 billion. Pakistan is South Asia’s weakest economy, and it will take a herculean effort to pull the country out of poverty, reported Islam Khabar.

Detailed explanation-2: -Three Poorest Countries in South Asia The three poorest countries per capita in South Asia are Afghanistan, Nepal, and Pakistan.

Detailed explanation-3: -Pakistan Economic Outlook The economy has likely weakened in FY 2023 (July 2022–June 2023) to date. Exports fell 12% and remittances 13% in July–April, and the Purchasing Managers’ Index has been bogged down in contractionary territory.

Detailed explanation-4: -Opportunities, power, and wealth here are limited to the top 1% of the people. The rest are not provided opportunities to succeed. Pakistan’s economy thus only relies on whatever a small elite can achieve. It remains underdeveloped as it ignores the talent of most in the country.