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Asharq Al-Awsat
15-07-2025
- Business
- Asharq Al-Awsat
Saudi Inflation Rate Remains Stable at 2.3% in June 2025
The General Authority for Statistics (GASTAT) reported that the annual inflation rate in Saudi Arabia remained stable at 2.3% in June 2025 compared to the same month of the previous year. The Consumer Price Index (CPI) also remained steady at 0.2% in June 2025 compared to May 2025, on a monthly basis. Similarly, the Wholesale Price Index (WPI) recorded a relative stability at 2.1% in June 2025 compared to the same month last year. However, the WPI decreased by 0.1% in June 2025 compared to May 2025. According to GASTAT, CPI reflects price changes paid by consumers for a fixed basket of 490 goods and services. This basket was selected based on the results of the 2018 Household Income and Expenditure Survey. Prices are collected through field visits to points of sale, and the CPI statistics are published monthly.
Leaders
15-06-2025
- Business
- Leaders
GASTAT: Saudi Arabia's Inflation Holds Steady at 2.2% in May 2025
The General Authority for Statistics (GASTAT) reported that Saudi Arabia's Consumer Price Index (CPI) recorded an annual inflation rate of 2.2% in May 2025, maintaining a stable level compared to the same month last year. This figure keeps the Kingdom among the G20 nations with the lowest inflation rates. The CPI tracks price changes for a fixed basket of 490 goods and services, selected based on the 2018 Household Income and Expenditure Survey. Data is collected through field visits to various retail outlets, and CPI figures are released monthly. Related Topics: Saudi Arabia, Netherlands Discuss Trade Cooperation ROSHN Green Initiative Center: Inspiring Future Environmental Leaders Saudi Arabia Welcomes Foreign Real Estate Investors Outside Holy Cities All You Need to Know about Hajj Rituals: A Step-by-Step Guide Short link : Post Views: 1 Related Stories
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First Post
10-06-2025
- Business
- First Post
Two neighbours, two paths: India beats poverty, Pakistan backs terror
The latest World Bank data reveals the starkly different paths India and Pakistan have taken since independence in their fight against poverty. While India has made massive strides in poverty reduction, Pakistan continues to struggle amid rising debt and a deep state-driven terror policy. read more The latest World Bank data paints a striking picture of two neighbours born together — India and Pakistan — and their vastly different journeys in tackling poverty. India's data, released on Saturday, compares poverty levels between 2011–12 and 2022–23. For Pakistan, the report analyses the period from 2017–18 to 2020–21. The release comes at a time when India has overtaken Japan to become the world's fourth-largest economy, while Pakistan made headlines last month for seeking yet another bailout from the IMF to stay financially afloat. STORY CONTINUES BELOW THIS AD While India's success is largely credited to its governance model focusing on development and poverty alleviation, Pakistan's worsening economic plight stems from misappropriation of funds and its long-standing policy on terror. Revised global poverty line Taking inflation into account, the World Bank has updated its global poverty threshold from $2.15 to $3 per person per day, in order to assess the proportion of people living above the 'extreme poverty' line. According to the World Bank's Poverty and Shared Prosperity report, despite this upward revision in the threshold, India witnessed a sharp decline in extreme poverty – from 27.1 per cent in 2012 to 5.3 per cent of the total population in 2022. The report notes that 75.24 million people in India were living in extreme poverty during 2022–23, a significant drop from 344.47 million in 2011–12. This means that 269 million individuals – more than Pakistan's entire population – were lifted out of extreme poverty in just 11 years. Pakistan's worsening poverty In contrast, Pakistan's numbers paint a bleak picture. Extreme poverty rose from 4.9 per cent to 16.5 per cent between 2017 and 2021 – in less than five years. Experts suggest the real figures could be even higher, owing to the outdated Household Income and Expenditure Survey used by the Pakistani government. Furthermore, the overall poverty headcount – calculated at $4.2 per person per day – increased from 39.8 per cent in 2017 to over 44.7 per cent in 2021. A debt-ridden economy Pakistan's economy has become heavily dependent on loans from global financial institutions and allied nations. It has taken 25 IMF bailout packages amounting to $44.57 billion, in addition to $38.8 billion in loans from the World Bank, Asian Development Bank, and Islamic Development Bank. On top of that, Pakistan owes over $25 billion to China, $7.8 billion through instruments like Eurobonds and Sukuks, and has received several billion more from countries like Saudi Arabia, the UAE, and members of the Paris Club. Lack of transparency in Pak and their obsession with India Despite receiving such extensive financial support, Pakistan has been repeatedly criticised by international institutions for its lack of transparency in fund allocation. Islamabad and Rawalpindi's persistent obsession with India, and their habitual comparisons with New Delhi, have resulted in massive funds being funnelled to the military. STORY CONTINUES BELOW THIS AD This military, in turn, operates with a long-standing doctrine of 'bleeding India with a thousand cuts' – promoting asymmetric warfare by funding terror networks, building terror infrastructure, and supporting cross-border attacks through various extremist outfits. Pak deep state: De-facto power holder In Pakistan, an informal coalition of the military and intelligence agencies (primarily the ISI) operates beyond civilian accountability and holds de facto control over political, security, and foreign policy decisions. This nexus supports terrorism and engages in a proxy war with India. Backing terror has long been a cornerstone of its strategy against New Delhi. Whenever India responds with decisive action, Rawalpindi uses the situation to consolidate internal power and strengthen its footprint in the country. The ISI is deeply intertwined with extremist groups, including the Taliban, Lashkar-e-Taiba (LeT), Jaish-e-Mohammed (JeM), and the Haqqani Network. For decades, it has funded, trained, and sheltered these groups – deploying them as proxies in Afghanistan and Jammu & Kashmir.
NDTV
09-06-2025
- Business
- NDTV
World Bank Data On India And Pakistan Shows Massive Contrast Over Poverty
New Delhi: Latest data released by the World Bank shows the tale of two countries - India and Pakistan - and their journey to battle poverty - a colonial inheritance. The comparison, especially over the last 15 years, shows a stark difference in priorities between the two south Asian neighbours. While the data for India, released on Saturday, gives a comparative analysis of poverty between 2011-12 and 2022-23, for Pakistan, it highlights the same between 2017-18 and 2020-21. This also comes at a time when India's economy has been in the news last week for surpassing that of Japan's to become the fourth-largest in the world, and Pakistan's was in the news last month for yet another bailout package from the IMF as it struggles to stay afloat. While India's growth story has been a result of its governance model - of development and poverty alleviation, Pakistan's plight has been a result of its misappropriation of funds and its policy on terror. WHAT THE DATA REVEALS Keeping inflation as one of its primary indicators, the World Bank has revised its global income threshold from $2.15 per person, per day to $3 per person, per day to ascertain what percentage of the population lives above the 'extreme poverty' line. According to World Bank's Poverty and Shared Prosperity report, despite the upward revision of per-person income, between 2012 and 2022, extreme poverty in India declined from 27.1 per cent to 5.3 per cent of the total population. The report states that in India, 75.24 million people were living in extreme poverty in India during 2022-23, a massive drop from 344.47 million in 2011-12. This means 269 million individuals - more than the entire population of Pakistan - were lifted out of extreme poverty in India in just 11 years. Sadly, for Pakistan the story is quite the opposite. Extreme poverty figures have risen from 4.9 per cent to 16.5 per cent in less than 5 years between 2017 and 2021. Analysts suggest that the situation could be far worse because of Pakistan's outdated Household Income and Expenditure Survey. To add to this, the overall poverty headcount in Pakistan - at $4.2 per person, per day - has risen from 39.8 per cent of the total population in 2017 to more than 44.7 per cent in 2021. Meanwhile, Pakistan's economy has been completely dependent on loans from global institutions and friendly countries. It has taken 25 bailout packages from the IMF with a cumulative amount of $44.57 billion, and another $38.8 billion in loans from the World Bank, Asian Development Bank, Islamic Development Bank. Besides this, loans from China stand at more than $25 billion and $7.8 billion from lenders like Eurobonds and Sukuks. Saudi Arabia, UAE, and the Paris Club have also extended several billion in loans to cash-strapped Islamabad. 'FUNDING AND SUPPORTING TERROR' However, Pakistan has been far from transparent in its allocation of funds. It has been pulled up several times by international financial institutions over Islamabad's lack of accountability. Islamabad and Rawalpindi's obsession with India and its age-old habit to compare with New Delhi has seen Pakistan spending most of its funds allocated to the country's infamous army, which in turn, has a policy of "bleeding India with a thousand cuts" with its asymmetric warfare against India by funding, setting up terror infrastructure, and supporting terrorists and terror outfits who carry out "cross-border terror". Speaking to NDTV, former High Commissioner of India to Pakistan, Ajay Bisaria, said, "The world cannot fix the Pakistan problem unless the structural problem of Pakistan army's overwhelming presence in politics and economy is fixed. Pakistan's army controls the allocation of resources. So, all the funds that are sent either via bilateral donors or multilateral donors ends up being misused by the army and in building the terror machinery. All donors will do well to get a wake-up call from the data which shows that only the Pakistani army is getting enriched by its bailouts." "The world will do well to put strong FATF-like conditions to monitor the aid money that goes to Pakistan to ensure funds are used for development and the benefit of the people of Pakistan," he added. Another diplomat, former Ambassador Ashok Sajjanhar, told NDTV that "The Pakistani government's priorities focus mainly on defence purchases on one end, and building a terror apparatus on the other end. Growth and development are phrases that are unheard of in Pakistani politics, as all governments have an unhealthy obsession with bringing India down, economically, politically and socially, rather than focusing on its own pressing domestic issues." "But dismantling terror factories are not on Pakistan's agenda since most continue to indulge in falsehoods. When Congressman Brad Sherman told Pakistan to end terror, he also spoke on behalf of millions of Pakistanis who see their development funds being funneled away towards terror and towards fulfilling the inflated egos of Pakistani generals," he added. An economist, Piyush Doshi, co-founder of the Foundation for Economic Development said, "Pakistan spending money in defence, particularly when it comes at the cost of very important development expenditure, is illogical. The world will be doing the people of Pakistan a favour by blacklisting the country, which will then force them to make rational choices and using funds to benefit its citizens." The latest World Bank data tells a story - a tale of two neighbours - one surging ahead and the other collapsing. Both are setting an example for the Global South - of how to be and how not to be. The message is clear: Poverty is not destiny, it is policy, leadership and will.
Express Tribune
06-06-2025
- Business
- Express Tribune
WB readjusts poverty line in Pakistan at 44.7%
Listen to article The World Bank has adjusted upward the income levels in an effort to measure global poverty, which has also pushed the percentage of Pakistanis living in poverty by to 44.7% — an outcome that may not still be fully reflecting the harsh ground realities due to the use of seven years old survey data. The Washington-based lender on Thursday released its new international poverty line to reflect changes in the prices of goods and services and their implications on the global population. The new poverty line for Pakistan, which is a lower middle-income country, is set at $4.20 per person per day, up from $3.65, said Christina Wieser, the senior poverty economist of the World Bank while briefing the media persons here. She said that due to the upward revision, for the lower middle income level, the poverty ratio has jumped from 39.8% of the old level to 44.7% on the threshold of $4.20 per day income. The World Bank has also updated the extreme poverty line from $2.15 to $3 per person per day. Because of the revision in the threshold, 16.5% of the Pakistani population lives in extreme poverty, up from 4.9% under the previous $2.15 threshold, said Christina. She said that one of the reasons for such a high jump was that the majority of the people were clustered around $2.15 to $3 per day income level, which resulted into a significant surge. About 82% of this increase in extreme poverty is due to the higher value of the new international poverty line reflecting increases in the national poverty lines of comparator countries, with the rest explained by price increases in Pakistan between 2017 and 2021, according to the World Bank. The World Bank has not used the latest population census data and instead relied on the United Nations population dataset. Christina also added that the underlying Household Income and Expenditure Survey (HIES) 2018/19 data has been used for both national and international estimates. While international poverty lines are essential for tracking global progress and comparisons, national lines remain more appropriate for informing country-specific policy decisions, said the senior economist. Anything that has affected since 2019 is not included in either Covid-19 or 2022 floods, as the baseline remains the same, said Christina while responding to a question. We are desperately looking forward to the new household integrated economic survey to update our baseline, she added. The local economists had estimated a sharp rise in poverty after the 2022 floods, which inundated one-fourth of the country and adversely impacted populations in three provinces. These updates to the international poverty lines ensure that poverty estimates remain accurate and comparable across countries. The methodology remains consistent with past updates, continuing a practice that began with the introduction of the dollar-a-day line in 1990, according to the World Bank economist. "The revisions help position Pakistan's poverty levels in a global context and underscore the importance of continued efforts to reduce vulnerability and improve resilience," said Najy Benhassine, the outgoing World Bank Country Director for Pakistan. For domestic policy and programme targeting, the national poverty line remains unchanged and continues to serve as the primary benchmark for assessing poverty within Pakistan, Christina said. The forthcoming World Bank Poverty, Equity, and Resilience Assessment for Pakistan will provide critical context for interpreting these updated poverty estimates, she added. The report would offer a detailed update on poverty, inequality, and non-monetary outcomes, will investigate key drivers of poverty, and outline a forward-looking agenda to enhance prosperity and resilience for all Pakistanis. According to the government's last official available numbers, which are based on the 2018-19 survey, 21.9% of the population was living below the national poverty line. However, because national poverty lines differ widely, the resulting poverty rates are not comparable internationally. The need for new international poverty lines arises from the evolving price levels and cost of basic needs across the world and within income groups, according to Christina Wieser. To maintain accurate global comparisons, the World Bank periodically updates these poverty lines. International poverty estimates are based on the headcount of people with consumption below the international poverty line, defined in purchasing power parities (PPPs). Pakistan is among the countries experiencing the largest changes in poverty when transitioning to the 2021 PPPs based on the Low-Income International Poverty Line, according to the World Bank. The World Bank said that the international poverty line should be used only for cross-country comparison and analysis; for evaluating poverty in a particular country (Pakistan), the national poverty line remains the appropriate standard. The revisions help position Pakistan's poverty levels in a global context and underscore the importance of continued efforts to reduce vulnerability and improve resilience, The new figures reflect updated international thresholds and improved data from other countries, not deterioration in living standards, according to Christina.
