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Pakistan can’t keep up with the dollar
Middle East News.Net
Saturday 10th May, 2008
Pakistan's currency has slumped to a record low against the US dollar with as rising oil prices causing concern about its high trade deficit and high inflation.
Rising oil prices and falling foreign investment are fuelling Pakistan's balance of payments problems and inflation, both of which undermine demand for and confidence in the rupee.
The currency has shed about 10 per cent of its value against the dollar since late February amid rising doubts about whether Pakistan's fast economic growth is sustainable.
The government is currently preparing a budget that is expected to include unpopular cuts in government spending and efforts to raise more taxes to contain a deficit expect to reach at least six per cent this year.
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Comments on this story
Sammy
05-10-08, 08:49 AM |
Pakistan can’t keep up with the dollar
It seems that America’s war bill will be distributed equally to all nations which economy is influenced by the falling US Dollar.
These Bush’s personal wars are affecting all poor countries on this planet, while the wealthy countries are benefitting through those corporations that have war contracts, and are in the arms business, it is the same old game the wealthy lives over the poor.
Sammy
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Anonymous
05-10-08, 10:25 AM |
Pakistan van't Keep up with the dollar
you are right Sammy however, i disagree with you about bush personal wars on terrors he has to do what’s good for the country just remember 3000 plus dead innoscent americans killed by some evil doers they came to this country just to kill americans for hate and dislove for democracy. I believe you some country are benifiting for this war specially the middle east country due to their oil they keep rising the value of oil for revenge against america they were getting reach and be soon the most powerfull small countries in the world.
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