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Pakistan–United Arab Emirates relations refer to bilateral relations between the Islamic Republic of Pakistan and the United Arab Emirates . These relations date back to the UAE's formation in 1971, and have since evolved into wide-ranging co-operation in various fields. Pakistan was the first country to extend recognition of the United Arab ...
In late January, Pakistan lifted the artificial cap on its currency, causing the rupee to plunge 20% against the dollar in a few days. The government raised fuel prices by 16%. And the Pakistani central bank raised its interest rate by 100 basis points to battle the country's highest inflation in decades, expected to be as high as 26% in January.
Amid these economic dynamics, Pakistan underwent a structural transition. The GDP share of agriculture declined from 53% in 1947 to 21.2% in 2010, while the GDP share of industry rose from 9.6% in 1949–50 to 25.4% in 2010. Additionally, the GDP share of the services sector increased from 37.2% in 1950 to 53.4% in 2010.
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The first period of stagflation began in the 1970s after the secession of East Pakistan and the formation of Bangladesh following the surrender during the Bangladesh Liberation War. Although the government of Zulfikar Ali Bhutto made an attempt to end this period, it was subsequently ended by the military government of Zia-ul-Haq in the 1980s.
Today’s best savings rates are at FDIC-insured digital banks and accounts offering yields of up to 5.50% APY with low minimum requirements at Betterment and Western Alliance Bank and up to 5.30% ...
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