Shehbaz Sharif’s big 2050 dream for Pakistan: Can it become a top-6 economy despite mounting debt, poverty?
Shehbaz Sharif aims to make Pakistan world's 6th-largest economy before 2050, advancing Goldman Sachs' 2075 projection by 25 years. But mounting debt, heavy IMF dependence, sluggish growth and rising poverty raise questions about the feasibility of his ambitious target.
Pakistan's Prime Minister Shehbaz Sharif has expressed optimism that the nation could become the world's sixth-largest economy by 2050, surpassing Goldman Sachs' earlier 2075 projection. However, this ambitious goal faces significant hurdles, including mounting government debt, dwindling fiscal space, and structural weaknesses. Pakistan's total debt reached ₹98.881 trillion by September 2026, a 6.46% increase from the previous year.
The external debt stood at $98.075 billion as of June 2026, with the country paying $14.436 billion towards servicing its external public debt in FY26. Despite some progress towards macroeconomic stabilization, the International Monetary Fund (IMF) and the World Bank have highlighted persistent weaknesses in Pakistan's economic recovery.
The poverty rate in Pakistan has also risen from 22% in FY19 to 29% in FY25, affecting around 70 million people. While Goldman Sachs' 2022 projection remains his optimistic vision, Sharif's timeline of 2050 may be more achievable than initially thought, given demographic trends, productivity improvements, and economic convergence.
Written by urgent.news from Live Mint's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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