Savings are over, income is low, poverty rate has increased in Pakistan

Web Desk: Poverty in Pakistan is estimated to have increased over the past fiscal year due to record high food and energy prices, weak labor markets and damage caused by floods, according to a report by the World Bank and IMF in Morocco. The Macro-Poverty Outlook prepared for the recently concluded annual meetings of the FK pointed out that high food and energy prices without significant positive growth rates could lead to social degradation. , and may particularly affect the well-being of already disadvantaged households, whose savings are already depleting and incomes are falling.
It noted that high inflation coupled with deteriorating wage and employment conditions have severely affected purchasing power, which is expected to increase poverty. Inflation is expected to be 26.5 percent during FY2024, which is expected to decline to 17 percent in FY25.