Almost half of Pakistanis hopeful of economic improvement in 2021: survey

• 30% of the respondents say economy would likely deteriorate further in 2021
• Net score was at -8% in 2009, -21% in 2010, -13% in 2011, 47% in 2014, a whopping 50% in 2015, and 18% in 2020
• Internationally, 25% people hoped for economic improvement in 2021 and 46% said it would become worse
• 56% of the Indians expect economic improvement but the rate remained at 23% in Afghanistan
• Nigeria had the most optimistic people, at 72%, while the British were the most disappointed, at 71%

KARACHI: Almost half of Pakistanis, or 48%, have expressed hope for economic improvement in the country in 2021 despite the coronavirus pandemic and other hardships, according to a survey conducted by Gallup Pakistan, with the rate of public optimism better than the global average.

The Economic Optimism Index survey — which was conducted between October 9 and November 2, 2020 — comprised more than 1,000 people from across Pakistan.

Close to a third of the respondents, or 30%, remained disappointed through 2021, saying the economy would likely deteriorate further. On the other hand, 12% opined that conditions would remain the same as they are now, while 10% did not answer this question.

Removing the number of those who were despondent about the future, Gallup noted that the next score was 18%.

According to the research company, when the PPP took over the government, the next score was seen at negative 38%. Despite improvement in 2009, it remained at negative 8%.

The same indicator crashed to negative 21% in 2010 but improved to minus 13% in 2011.

However, the net score skyrocketed as the PML-N came into power, registering a score of 47% in 2014 and then a whopping 50% in 2015. It has since been declining and, in 2020, has come down to 18%.

Interestingly, Pakistan's next score of 18% is way better than the negative 21% around the world, Gallup underscored.

Internationally, according to responses from individuals of 46 countries, 25% hoped for economic improvement in 2021, while 46% said it would become worse. Moreover, 24% said the situation would remain the same and 5% did not answer the question.

Similarly, in Pakistan's neighbour to the east, India, 56% of the Indians expect economic improvement in the future, whereas the rate remained at 23% in Afghanistan.

In the Economic Optimism Index, Nigeria topped the list of the countries where people were the most optimistic for the future, at 72%, while the most disappointed for the future were the British, at 71%.