Dashed hopes

WITH the real economy in a deep slump and macroeconomic indicators stable, how should we describe the current state of the economy and the direction in which we are heading?

According to the just released Pakistan Economic Survey 2024-25, whatever spin you may want to give it, the economy is in a deep downturn given the collapse of the crop sector and the drastic decline in incomes in rural areas, where almost 60 per cent of the population lives and where extreme poverty is concentrated.