According to a new analysis, Nawaz Sharif’s premiership oversaw Pakistan’s economy’s greatest performance in the previous three decades when compared to his rivals.
As per Bloomberg Economics, the PML-N led by Sharif performed better than both the Pakistan Tehreek-e-Insaf (PTI) of Imran Khan and the Pakistan Peoples Party (PPP) of Bilawal Bhutto Zardari.
The analysis was conducted using the so-called misery index, which adds the rate of unemployment and inflation to determine how well an economy is doing.
“An average of the index values over the corresponding years when each of the major political parties ruled the nation since 1990 was utilized by Bloomberg Economics. According to the newspaper, a higher value denotes greater economic suffering for the populace.
As per Bloomberg, Nawaz appears prepared to seize power following the fourth round of general elections on February 8th, while Khan remains imprisoned and mired in a maze of legal disputes.
But according to a Gallup opinion poll, Khan remains Pakistan’s most popular leader with a 57% popularity rating despite his imprisonment. Over the previous six months, Nawaz’s popularity rose from 36% to 52%.
Ankur Shukla of Bloomberg Economics stated in the report that “the public may be giving Sharif the benefit of the doubt” and that “road ahead won’t be easy for any party that wins the election” in light of the high unemployment and inflation rates.
Pakistan’s inflation rate is around thirty percent, and the rupee had the worst performance in Asia last year due to dwindling foreign exchange reserves.
In addition, the nation is looking to the International Monetary Fund (IMF) for financial assistance, and the next government will have to enact measures that the electorate would find unpleasant, such as cutting subsidies and hiking taxes.
The international lender projects a 2% growth in GDP for the upcoming fiscal year.
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