How did infant Pakistan manage to survive economically after independence (1947)
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Pakistan's reserves increased from US $1.2 billion in October 1999 to US $10.7 billion in 30 June 2004. The rate of inflation fell, while the investment rate grew to 23 percent of GDP, and an estimated $14 billion of foreign private capital inflows financed many sectors of the economy.
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The infant Pakistan manage to survive economically after independence by:
- Since independence, the 'economy of Pakistan' has been semi-industrialized one which was based on industries like 'textiles, agriculture and 'food production.'
- The boost to economic activities along land reforms and reform in the field of agriculture helped the government in stabilizing the economy.
- The political instability, weak trade relation and currency war with India had resulted in the economic fallout during the early decade of the country.
- However effective reforms in the manufacturing sector along international support helped in managing the country.
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