United Nation’s Recent Study Lists Pakistan Among ‘Lower-Middle Income’ Countries - Capital TV

June 3, 2023


United Nation’s Recent Study Lists Pakistan Among ‘Lower-Middle Income’ Countries

Mahnoor Tariq

According to a UN study released on January 16, Pakistan remains to be a lower-middle income country. It stated that it will continue to maintain this position due to changes in energy prices.

About South Asian crisis:

Despite their economic growth, the research classifies Bangladesh and India among lower-middle income nations. Along with Nepal, Afghanistan has been categorised as a low-income country. The UN labour agency’s research states the ongoing global economic crisis will make it more difficult to land a stable job in 2023. According to the report, South Asia has not been impacted by the conflict in Ukraine because it has limited relationships with Russia. The rising global commodity prices brought on by the conflict, however, makes it “extremely susceptible.”

Why it matters:

The research asserts that South Asia’s vulnerability to energy imports has been highlighted by the recent high energy costs. It highlights how there is an obvious need to become less dependent on these imports. The UN office for employment projects that by 2023, there will be 208 million unemployed individuals worldwide.

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