In 2023, the inflation rate skyrocketed to almost 30% in the country, while the real GDP growth rate was -0.5%, according to the International Monetary Fund’s World Economic Outlook Database.
Pakistan’s economic situation is in dire straits. Onion prices rose by 501 per cent year-on-year, while the cost of rice, pulses, and wheat has also surged by nearly 50 per cent in a year.