Pakistanis hope for a better future
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WASHINGTON: A new US survey released on Thursday places Pakistan among five nations where people’s hopes for a better future have improved in the past one year.
In 2014, 37 per cent Pakistanis hoped for a better economic future. In 2015, it increased to 47pc, registering a 10pc improvement.
Other nations on this list include Nigeria, Argentina, India and Spain.
In 2014, 64pc people in India saw their future as bright, which increased to 74pc in 2015.
The survey by the Washington-based Pew Research Centre, however, shows that most Pakistanis (51pc) are unhappy with the current economic situation while 47pc say it is good. Others declined to comment.
Forty-eight pc see economic situation in Pakistan improving over the next 12 months, 23pc say it will remain the same and 13pc say it will worsen.
Fifty-one pc Pakistanis believe that when today’s children grow up, they will be financially better off than their parent but 22pc say they will be worse off.
The report also includes a World Bank economic categorisation, which places Pakistan in the lower middle group with a gross domestic product of $241 billion, GDP per capita based on purchasing power parity at $4,886, and average GDP growth of 4.4pc between 2005 and 2014.
The survey of 40 nations finds that publics in fewer than half of those countries have a positive view of their nation’s economy.
But there are signs of growing public faith in economic recoveries in some of the world’s largest economies.
Roughly four-in-ten Americans, Europeans and Japanese say economic conditions are good in their countries. Such sentiment is up 30 percentage points in Japan from a low point in 2012; up 23 points from the 2009 low in the United States; and up 23 points from the 2013 low for the median of five European Union nations surveyed.
Overall, people in emerging economies and developing countries are more likely than those in advanced economies to believe that economic conditions will improve over the next 12 months.
The IMF expects global growth in 2015 will be marginally slower than that in 2014. Only in developing nations does a majority (58pc) expect conditions to get better.
Published in Dawn, July 24th, 2015
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