A recent survey conducted by IPSOS Pakistan, a prominent global market research and consulting firm, has revealed a notable decline in public confidence in the government’s economic management, despite the presence of some positive indicators.
The survey, which polled over 1,000 individuals across the country, offers a comprehensive view of the economic challenges currently confronting the Pakistani populace.
Challenges in meeting basic needs
According to the survey, 94 per cent of respondents reported difficulties in affording essential household items, representing a 4% increase from previous data.
Furthermore, 90 per cent of those surveyed indicated an inability to save money, a 5 per cent rise from earlier figures. A mere 13 per cent of respondents expressed confidence in the strength of the economy, down 3 per cent from previous levels. Conversely, perceptions of a weak economic situation increased by 1 per cent, with 69 per cent of participants voicing concerns over the nation’s economic trajectory. Meanwhile, 17 per cent saw no notable change in the economic landscape.
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Rising wave of pessimism
The survey also documented a significant surge in pessimism regarding Pakistan’s economic future. The proportion of respondents who expressed a bleak outlook for the coming weeks jumped by 19 per cent, with 70 per cent expecting the economic situation to remain unfavorable over the next six weeks.
Optimism about future economic improvement has dwindled, with a 10 per cent decrease among those holding a hopeful view. On the other hand, 18 per cent of those surveyed believed there would be no significant shift in the current economic conditions.
Dimming hopes for financial improvement
When questioned about their financial prospects over the next six months, 19 per cent more respondents felt their financial circumstances were worsening, with 67 per cent expecting no improvement. Confidence in personal financial recovery also saw a steep decline, with only 13 per cent expressing optimism—a 15 per cent drop.
Furthermore, 20 per cent of participants reported no expected change in their financial situation.
No savings
The survey highlighted an increase in the number of Pakistanis unable to save money, with this figure climbing by 5 per cent to reach 90 per cent.
These findings paint a stark picture of the economic hardships faced by the average Pakistani, despite certain positive indicators, and reflect a deepening skepticism about the government’s capacity to guide the nation towards economic stability.
