Economic and Human Capital Development in Pakistan 1999-2007
Pakistan experienced rapid economic and human capital growth in years 2000 to 2008 on President Pervez Musharraf's watch . Savings, investments and exports hit new records and the rate of increase in human development reached new highs not seen before or since this period. Savings and Investments: Domestic savings rate reached 18% of the GDP and foreign direct investment (FDI) hit a record level of $5.4 billion in 2007-8. This combination of domestic and foreign investments nearly tripled the size of the economy from $60 billion in 1999 to $170 billion in 2007, according to IMF . Exports nearly tripled from about $7 billion in 1999-2000 to $22 billion in 2007-2008, adding millions of more jobs. Pakistan was lifted from a poor, low-income country with per capita income of just $500 in 1999 to a middle-income country with per capita income exceeding $1000 in 2007. Pakistan Per Capita Income 1960-2012. Source: World Bank The PPP government summed up General Mush...