US
Economy needs structural transformation that is a painful and enduring process
Policymakers will have to adopt Look East policy to solve problem
Current account surplus is achieved at cost of living standards, employment
It is trying to impose fiscal and financial discipline to bring country back on track
Analysts trace historical roots, talk about long-standing structural problems
Fiscal deficit of 6% is indispensable for Pakistan’s economy
Time will tell whether the government is able to solve structural problems to correct balance of payments
Contraction in manufacturing sector will lead to broad economic slowdown
Govt looks for alternative means to ease external-sector constraint, avoid political backlash
Higher discount rate, low development spending will have adverse impact on economy