More people are satisfied with country’s economy: survey

ISLAMABAD: Not only that the rate of Pakistanis satisfied with the country›s economic and overall situation has increased, the concern of Pakistanis over inflation has also decreased.

This was revealed in the second quarter report of Ipsos Pakistan›s Consumer Confidence Survey 2024 in which more than 1,000 people participated from across the country.

In the survey, the percentage of Pakistanis who think that the country was heading in the right direction was seen at two-year high.

The survey showed that 12 percent people expressed complete satisfaction with the direction of the country in the first quarter, and in the second quarter it was 18 percent. While the rate of those saying the country›s direction was wrong decreased by 6 percent to 82 percent.The rate of Pakistanis calling inflation the most important issue was also recorded at a three-year low, 47 percent in November 2021, 63 percent in December 2022, 70 percent in March 2023, 51 percent in the first quarter of 2024, while 34 percent in the recent survey called inflation the most important issue.

Despite a decrease in the concerns of Pakistanis on inflation, this issue was seen at the top of country›s major problems. However, other problems like unemployment, poverty, electricity tariffs and increased loadshedding saw an increase among the concerns of Pakistanis.

The rate of those calling unemployment a major problem increased by 10 percent to 26 percent, the rate of those expressing concern over poverty increased by 4 percent to 11 percent, the rate of Pakistanis worried about power outages increased by 4 percent to 8 percent, and the rate of those expressing concern over the increase in electricity tariff increased by 2 percent to 6 percent.

Among other issues, 3 percent people showed concern over the burden of taxes, 2 percent on inequality in the implementation of law, 2 percent on corruption, bribery, adulteration and nepotism, 2 percent on interference in the work of state institutions, while one percent of Pakistanis expressed concern over the lack of public health facilities and demanded the government to solve these problems.

The question of the current situation of the country›s economy witnessed an increase of 12 percent compared to the previous survey. Sixteen percent called the country›s economy strong and expressed full confidence in it, while the rate of those who called the economy weak increased by 8 percent to 68 percent, while the rate of those who considered the economy medium, i.e. neither strong nor weak, decreased by 20 percent to 16 percent.

On the question of whether buying common household items has become easier, 10 percent of Pakistanis voted in the affirmative, an increase of 6 percent compared to the previous survey, while the rate of Pakistanis who said shopping was difficult was seen at 90 percent, after a 6 percent decrease.