High Price of Oil is bad for economy
Since 2003, oil prices are constantly on the rising side. End of 2007 has seen the maximum of $100per barrel. This rising trend in oil price in the international market has hurt the economies of many countries in the world including that of Pakistan. The extent to which economies hurt as a result of price shock depends on the country’s dependency on oil. Before analyzing the impact of high oil prices at the macro level the paper will look at some of the indicators showing the vulnerability of the Pakistan’s economy.
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