Leadership
Bloomberg Economics’ analysis reveals that Pakistan’s economy witnessed its most robust performance in three decades under the leadership of Nawaz Sharif, who served as the country’s Prime Minister three times. The comparative study considered the misery index, a composite measure combining inflation and unemployment rates, to assess economic well-being during the tenures of major political parties since 1990.
The findings indicate that Sharif’s Pakistan Muslim League-Nawaz (PML-N) outperformed Imran Khan’s Pakistan Tehreek-e-Insaf (PTI) and Bilawal Bhutto Zardari’s Pakistan Peoples Party (PPP).
As the nation gears up for general elections on February 8, Bloomberg suggests that Nawaz Sharif is poised to return to power for the fourth time. The report notes the challenges facing any incoming government, including soaring inflation nearing 30%, a depreciating rupee ranking as Asia’s weakest currency in the past year, and a plea for financial assistance from the International Monetary Fund (IMF).
The IMF’s projection of a modest 2% economic growth in the fiscal year underscores the formidable task ahead.Despite being incarcerated, Imran Khan remains the most popular politician in Pakistan, boasting a 57% approval rating according to Gallup opinion polls.
In contrast, Nawaz Sharif’s popularity has surged from 36% to 52% over the last six months. Bloomberg Economics acknowledges the difficulties ahead for the winning party, emphasizing the unpopular measures needed to address economic challenges, such as subsidy withdrawals and tax increases.
Ankur Shukla of Bloomberg Economics notes in the report that the public seems to be giving Sharif the benefit of the doubt, but the road ahead for any victorious party will undoubtedly be arduous amidst the backdrop of high inflation, unemployment, and the necessity for unpopular economic reforms.
I am a dynamic professional, specializing in Peace and Conflict Studies, Conflict Management and Resolution, and International Relations. My expertise is particularly focused on South Asian Conflicts and the intricacies of the Indian Ocean and Asia Pacific Politics. With my skills as a Content Writer, I serve as a bridge between academia and the public, translating complex global issues into accessible narratives. My passion for fostering understanding and cooperation on the national and international stage drives me to make meaningful contributions to peace and global discourse.
