The Asian Development Bank on Wednesday in a report declared Pakistan as the second most expensive country in the South Asian region.
The Asian Development Bank (ADB) has released its report for the year 2022, predicting that the inflation rate in Pakistan will remain high in the coming months and the value of the Pakistani rupee may fall further. The inflation rate in Pakistan is recorded at 26.6%.
According to the forecast, energy is likely to become more expensive in Pakistan, and the rate of economic growth in South Asia has slowed down due to floods, adding that the floods in Pakistan and Bangladesh have affected both countries’ economic growth.
On the other hand, Sri Lanka has been declared the most expensive country in the region with an inflation rate of 70.6 percent, while the inflation rate in Bangladesh is 8.9 percent and India is witnessed at 6.8 percent.
The report further stated that the floods have caused significant damage to Pakistan s economy, causing massive damage to the agriculture sector especially wheat and livestock as well Power Sector.
Remember here one thing Asian Development Bank in his report predict that the inflation rate in Pakistan will remain high in the coming months.