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Finance Minister

Budget has a demand problem

For much of economic history, the idea that production would eventually generate its own demand rested on a set of strong assumptions: flexible prices, full employment, and a financial system that transmitted savings smoothly into investment.

Crisis deepens

Pakistan’s Supreme Court has ordered that elections to the two provincial assemblies be held later this month, but this seems unlikely in the present circumstances, with the government arguing it does not have the funds to conduct elections and security agencies claiming they are not in a position to assist the process.