Declining security, terrorism affect Pakistani economy: UN
May 7, 2010 by SAF Desk
Filed under News at a glance
NEW YORK: Pakistan’s economy has been affected not just by the global economic crisis but also by the declining security situation and intensification of conflict linked to terrorism, local media reported Friday.
Industry, especially large-scale manufacturing, suffered the worst of all sectors from the drop in international demand, while also having to cope with acute shortages of electricity, said the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) report which was launched Thursday.
In Pakistan, GDP growth fell from 4.1 percent in 2008 to 2.0 percent in 2009 while inflation rose sharply from 12 percent in 2008 to 20.8 percent in 2009 mainly because of food price increases, it said…..