All posts tagged: deficit

Not the Heterodox Approaches, but the Economic System of Islam will Save Turkey

Nureddin Nebati, Minister of Treasury and Finance, who made an opening speech at the “Economic Transformation and New Paradigms Summit” hosted by the Ministry of Treasury and Finance, presented statements regarding the economy. Minister Nebati interpreted the economy by using eccentrical loanwords and used these statements: “The heterodox approach, which represents an epistemological break from […]

All those Who Desire Independence from America, Must Work to Re-Establish Khilafah (Caliphate) on the Method of Prophethood

The country wide debate, from the masses to the people of power, has widened from the crash of the Rupee before the US dollar, and the use of Pakistan’s air space for American drones, to how Pakistan can become truly independent, whilst we bear grave losses to our economy, education, health and security. The long […]

With a Collapsing Rupee and an Eruption of Inflation, Democratic Capitalist Policies Have Shoved the Economy into Intensive Care.

The Khilafah Alone Will Build an Independent Economy through Islamic Policies. An independent nation can never be born of slavery-based economic structures, policies and regimes. What is the result of seventy years of enslaving, democratic, capitalist policies? When the international price of oil rises, the economy begins to falter, sputter and stall. When the US […]

The Constant Inflation is Due to Currencies that Lose their Value Constantly, as They are not Based on Gold and Silver

Like other currencies, the Dollar, the Pound and the Franc, originally, the Rupee was backed by real tangible wealth in the form of a precious metal. In the case of the Dollar, it was gold, in the case of the Rupee it was silver. This system stabilized the value of the monetary unit both internally […]

Khan’s State Bank of Pakistan Autonomy Bill will Enable the IMF and International Creditors to Commit Daylight Robbery

Khan’s new bill seeks to make the State Bank of Pakistan (SBP) autonomous and has drawn widespread condemnation. The former finance minister, Miftah Ismail described the bill as converting the SBP into the “bank of IMF”. [aninews] Ismail also declared that the new measures would make the SBP more powerful than the parliament as “there […]

Q&A: The Turkish Lira Falls to its Lowest Level And its Implications on the Presidential Elections in 2023

Question: The Turkish lira plunged to its lowest level in a short period, losing more than 30% of its value in less than two months, and losing more than 45% of its value since the beginning of this year. The inflation doubled to about 21% and prices rose significantly. Note that it has been in […]

Under Capitalism, Whether the GDP Goes Up or Down, the Conditions of the People Go from Bad to Worse, Deprived of Substantial Local Industry

On 28 July 2021, the economic advisory wing of the finance ministry declared in its Monthly Economic Outlook (MEO) for July that, “In the transition towards a higher potential growth level, pressure can be built on external accounts, calling for close monitoring to ensure that the new growth strategy is sustainable.”

Dr Reza Baqir and Dr Abdul Hafeez Shaikh Pakistan’s Economic Hit Men

The CVs of Pakistan’s Governor of State Bank of Pakistan and Finance Minister speak volumes about their Western credentials. Both have degrees from supposedly prestigious institutions, and have worked in many developed countries. And yet, beyond their research publications, one has the right to ask exactly which developing countries have they transformed into developed countries? […]