PML-N tops economic management over past 3 decades: Bloomberg report

The PML-N delivered the “best performance in managing the economy over the past three decades” compared to its political rivals, according to a report from Bloomberg Economics.

The report issued a day ago said that the PML-N “scored better” than the PTI and the PPP when using a combination of unemployment and inflation data called the misery index.

The report explained that it used an average of the index values over the respective years when each of the three parties was in power, adding that a higher value indicated more economic hardship for citizens.

It noted that with PTI chief Imran Khan’s legal troubles, as he remains incarcerated while his party is deprived of its election symbol, PML-N supremo Nawaz Sharif “looks set to resume power” after the February 8 general polls.

However, the report said that Imran was “still the most popular politician, with an approval rating of 57 per cent, according to a recent Gallup opinion poll” while Nawaz’s ratings jumped to 52pc from 36pc in the past six months.

Commenting on the development, Ankur Shukla of Bloomberg Economics said: “The public may be giving Sharif the benefit of the doubt.”

He added that the “road ahead won’t be easy for any party that wins the election” due to inflation at persistently near record highs and unemployment also at elevated levels.

The country’s annual inflation remains sky-high, clocking in at 29.7pc last month, according to the latest data released from the Pakistan Bureau of Statistics(PBS).

Additionally, the country is currently propelled by yet another International Monetary Fund (IMF) tranche release of $700 million for the time being, in addition to being restricted by the Fund’s stringent conditions.

The report added that “the new government will need to implement policies that may be unpopular with voters, such as withdrawing subsidies and raising taxes.”

PML-N rejoices Sharif’s ‘respect on global scale’

Responding to the report, the PML-N said the party chief’s work had “earned him widespread praise in the international media” and “respect on a global scale!”

Nawaz has amped up election tactics along with PPP Chairman Bilawal Bhutto-Zardari as politicians race towards the Feb 8 polls.

He has vowed to usher a new age of development, promising that no youth will be “unemployed” if he is elected.

from The Dawn News - Home https://ift.tt/K4RCysa

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