No Result
View All Result
Sunday, July 27, 2025
MM News
اردو
  • Home
  • Latest News
  • National
  • Dramas
  • Showbiz
    image: Screengrab

    What is controversial about Benazir Bhutto in Indian film Dhurandhar that angers Pakistanis?

    Image: Screengrab

    Why did Indian model Ruchi Gujjar slap producer Karan Singh?

    Vaani Kapoor portrays a detective in Mandala Murders, investigating ritualistic killings and secret societies.
(Netflix)

    Is Vaani Kapoor’s ‘Mandala Murders’ based on a true story?

    Samira Rajput

    Ghotki: TikToker Sameera Rajput found dead under mysterious circumstances

    War 2

    War 2 trailer ignites online hype as Hrithik Roashan and Jr NTR clash intensely

    Sher

    Sher enters new emotional phase, fans react strongly online

  • Thought Box
  • Business
  • Opinions
  • Technology
  • The Other Side
MM News
  • Home
  • Latest News
  • National
  • Dramas
  • Showbiz
    image: Screengrab

    What is controversial about Benazir Bhutto in Indian film Dhurandhar that angers Pakistanis?

    Image: Screengrab

    Why did Indian model Ruchi Gujjar slap producer Karan Singh?

    Vaani Kapoor portrays a detective in Mandala Murders, investigating ritualistic killings and secret societies.
(Netflix)

    Is Vaani Kapoor’s ‘Mandala Murders’ based on a true story?

    Samira Rajput

    Ghotki: TikToker Sameera Rajput found dead under mysterious circumstances

    War 2

    War 2 trailer ignites online hype as Hrithik Roashan and Jr NTR clash intensely

    Sher

    Sher enters new emotional phase, fans react strongly online

  • Thought Box
  • Business
  • Opinions
  • Technology
  • The Other Side
No Result
View All Result
No Result
View All Result
MM News
اردو
  • Latest
  • Thought Box
  • Showbiz
  • Business & Stock
  • Opinions
  • Technology
  • The Other Side-Pakistan
Home Opinion & Editorial Opinion

Pandemic and economic collapse

Rabia Shehzad by Rabia Shehzad
May 24, 2020
The global economy is expected to contract sharply during 2020 as a consequence of the ongoing coronavirus pandemic. This could turn into the worst recession since the 2008 financial crisis.
The year 2020 was once projected to be the most progressive for Pakistan’s economy, but sadly the global COVID-19 pandemic has heavily affected the economic status worldwide. Due to this havoc, Pakistan’s economic growth for the ongoing fiscal year 2019-2020 is expected to stand in ‘negative’ after nearly seven decades. All the major economic targets are expected to be missed.
The World Bank and IMF have projected a negative economic growth rate in the range of 1.3% to 1.5%. The growth rate for the previous fiscal 2018-19 was recorded at 3.3 percent. The lockdown due to the deadly virus has adversely affected business activities all around the world which reduced demand and caused higher inflation.
During the last three month period, the State Bank of Pakistan has slashed the interest rate four times, down to nine percent on April 16. Pakistan has cut its interest rates the most this year to cushion the economy amid the economic and health crisis.
The world is facing a bigger challenge of unemployment due to the lockdown as business activities have come to a standstill. The pandemic has havoc wiped out millions of jobs worldwide. Businesses are shut down and the companies started to lay-off a large number of employees. The automobile sector is facing a crisis as for the first time in the country’s history not a single car was sold in the month of April while the country’s exports fell by a massive 54% in April 2020.
According to the Pakistan Institute of Development, up to 19 million people could be laid off due to COVID-19. The post-pandemic situation could be even worse as the country aims to rebuild the economy.
In the meantime due to the immense pressure on Pakistan’s economy, the Financial Action Task Force (FATF) has provided a three-month extension for Pakistan to submit its compliance report. The new deadline is now September 2020.
It remains to be determined how government is going to tackle this economic damage and how it will be able to recover from post-pandemic challenges.
Tags: collapseeconomicmm newsopinionpandemic
ShareTweetSendShare
Previous Post

PIA crash tragedy

Next Post

NASA, SpaceX ready to launch astronauts into space

Related Stories

Opinion

From Sects to Sunnah

July 15, 2025
Opinion

Portugal and Pakistan: Building a Bilateral Bridge in a Fractured World

June 29, 2025
Opinion

A Peace Prize for Betrayals: Rethinking Pakistan’s Strategic Alliances

June 28, 2025
Opinion

“Run Lola Run” – More than a movie to cultural bridging

June 27, 2025
Opinion

Ceasefire or a Smokescreen? The US-Iran Next Dialogue of Disillusions

June 26, 2025
Opinion

Israel-Iran War and Supply Chain of World Economy

June 25, 2025
Opinion

Unleashed Modern-day Holocaust and the Global Collapse

June 23, 2025
Opinion

Firestorm in the Middle East: Global Stakes on Exploding Frontlines

June 19, 2025
Opinion

A Celebration of Shared Struggle and Future Aspirations

June 17, 2025
Opinion

A Strategic Leap, Not Just A Flight

June 16, 2025
Next Post

NASA, SpaceX ready to launch astronauts into space

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Trending Stories

Online
Top News

Italian aid Ship ‘Handala’ nears Gaza waters

by MM News Staff
July 26, 2025
Social media
Sports

Hulk Hogan’s wife Sky Daily shares emotional tribute for wrestling legend

by MM News Staff
July 26, 2025
Online
Top News

President Zardari confers Nishan-e-Imtiaz on US CENTCOM chief Gen Kurilla

by MM News Staff
July 26, 2025
File photo
Sports

Asia Cup 2025 schedule: Pakistan to take on India on Sep 14

by MM News Staff
July 26, 2025
Screen grab
Uncategorized

Viral video sparks outrage as Karachi traffic police ‘fine’ cyclist

by MM News Staff
July 26, 2025

Opinion

nadeem moulvi
From Sects to Sunnah
July 15, 2025
- Nadeem Moulvi
Munir-Ahmed
Portugal and Pakistan: Building a Bilateral Bridge in a Fractured World
June 29, 2025
- Munir Ahmed
munir ahmed oped
A Peace Prize for Betrayals: Rethinking Pakistan’s Strategic Alliances
June 28, 2025
- Munir Ahmed
No posts found
See all

Weather Updates

File photo
Weather

KP issues travel advisory amid monsoon showers

by MM News Staff
July 26, 2025

In light of the ongoing monsoon spell, the Tourism Department of Khyber Pakhtunkhwa (KP)...

Image: file photo

Weather updates for Islamabad, other parts of country

July 26, 2025
File Photo

Another monsoon spell to begin in Pakistan from July 28

July 25, 2025
Rain

Early morning rain brings relief to Karachi’s heat-stricken residents

July 20, 2025
See all

Prices

representative image
Business & Stock

Gold prices in Pakistan today- Saturday 26 July 2026

by MM News Staff
July 26, 2025

The following are the latest gold prices in Pakistan on Saturday, 26 July 2025....

File Photo

Govt to deregulate electricity prices under new competitive energy market policy

July 25, 2025
Electricity

Why are electricity bills set to surge in coming months?

July 25, 2025
Foreign Currency

Foreign currency exchange rates in Pakistan, 25 July 2025

July 25, 2025
See all

Transport News

Charged Parking
Top News

Has the Sindh government put an end to parking fee extortion?

by MM News Staff
July 25, 2025

A complete ban has been imposed on collecting charged parking fees on all roads...

E-Taxi scheme launch date unveiled in Punjab

July 24, 2025
(File Photo)

Air Arabia Abu Dhabi expands operations in Pakistan with new Faisalabad, Multan flights

July 24, 2025
(Getty Images)

China’s BYD to assemble EVs in Pakistan from 2026

July 24, 2025
See all

MM Digital (Pvt.) Ltd.

MM News is a subsidiary of the MM Group of Companies. It was established in 2019 with the aim of providing people of Pakistan access to unbiased information. Contact Details: 03200201537

Quick Links

  • Home
  • Advertise
  • MM News Urdu
  • The Other Side-Pakistan
  • Contact Us
  • Privacy Policy

Top Pages

  • Latest News
  • Showbiz
  • OP-ED
  • Technology
No Result
View All Result
  • Latest News
  • Showbiz
  • Thought Box
  • Business
  • Opinions
  • Technology

© Copyright 2024 MMNews - All Rights Reserved.