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World of Stats ranks Pakistan as cheapest country to live

The purchasing power of many Pakistanis has been negatively impacted by the increasing exchange rate of the US dollar.



World of Stats ranks Pakistan as cheapest country to live
GNN Media: Representational Photo

World of statistics ranks Pakistan as cheapest country to live as the country is experiencing political and economic unrest and high inflation.

According to World of Statistics, Pakistan tops the ranking followed by Egypt on second and India on third number.

In the recent months, Pakistan has been facing significant challenges in the form of increased inflation and an unstable political and economic situation. These issues have left the people living here grappling with the burden of rising prices, stagnant incomes, and an uncertain future.

The country has witnessed a consistent upward trend in consumer prices, resulting in a decline in the purchasing power of the population. The price hikes have hit the average citizen particularly hard, making it increasingly difficult to make ends meet.

Pakistan's political landscape has been marked by volatility and frequent transitions of power in recent years. Political instability often leads to policy inconsistencies, impeding foreign investments and economic growth. Moreover, the lack of stability makes it challenging to implement structural reforms necessary for sustainable development.

The unstable political environment is intertwined with Pakistan's economic challenges. The country has struggled with a wide range of issues, including a large fiscal deficit, a fragile tax base, inadequate infrastructure, and a persistent current account imbalance.

The combined effect of inflation and an unstable political-economic situation has had a profound impact on the everyday lives of ordinary Pakistanis. With the prices of basic necessities skyrocketing, individuals and families are finding it increasingly difficult to afford essential goods and services.

Pakistan finds itself at a critical juncture, grappling with increased inflation and an unstable political-economic landscape. The burden of rising prices and stagnant incomes is taking a toll on the everyday lives of its citizens, exacerbating socio-economic disparities and hampering the country's development prospects.

However, by prioritizing stability, implementing comprehensive reforms, and fostering an environment conducive to economic growth, Pakistan can pave the way towards a brighter and more prosperous future for its people.