DAWN.COM

Today's Paper | May 03, 2026

Published 12 May, 2020 12:16pm

'Recession is coming,' warns FM Qureshi

Foreign Minister Shah Mahmood Qureshi has warned that a recession will follow the coronavirus health crisis.

"The world is saying this. The global economy is going to contract by 3 per cent. It amounts to trillions of dollars and it will have a huge impact on Pakistan," he told the Senate.

"Our exports have decreased by 40pc. There is a danger of layoffs [of Pakistani labourers] in Gulf states, remittances might go down by 20 to 23pc."

Read Comments

US awards F-16 upgrade contract for Pakistan, other states Next Story