World Bank expresses ‘serious concern’ over state of Pakistan’s economy

ISLAMABAD: Around nine and a half million Pakistanis are currently living in poverty, according to the World Bank, Bol News reported on Saturday.

The World Bank expressed ‘serious concern’ over the state of Pakistan’s economy. It said Pakistan should take immediate measures to tax agriculture and real estate.

“For economic stability, Pakistan should reduce its unnecessary expenses by making fiscal adjustment equal to 7 per cent of the GDP,” the World Bank.

Poverty in Pakistan has increased to 39.4 per cent in the last financial year, the WB said. It said because of the poor economic conditions, more than 200 million people were trapped in the poverty.