Irteza Malik

Irteza Malik

The writer is a student of economics and at the National University of Sciences and Technology (NUST).

What will the new economic ‘normal’ look like?

The current pandemic has quickly turned from a public health crisis into an economic crisis; and the latter is likely going to worsen. Hence, it is time we reconsider our vision of the post-pandemic economic scenario. Will our hopes of the global economy returning to its pre-pandemic state fall short? Let us consider the different components likely to be impacted. Consumption With consumption being the largest component of the gross domestic product (GDP) for most of the world, a hit to consumption expenditure would lead to a direct hit to the overall GDP. And given the deteriorating circumstances, consumption will suffer a ...

Read Full Post

What caused the oil price crash?

To get a keen sense of where the global economy is headed, we need not look any further than the beleaguered global oil market. Oil supply is in abundance, oil companies are on the verge of bankruptcy, storage spaces are filled to the brim, and the only thing lower than oil prices themselves is the current demand for oil. The phenomenon revolves around the demand and supply of oil, and the current excess supply of oil in the global economy can be attributed to two major factors. Firstly, recently Saudi Arabia and Russia got into an oil war. The feud ...

Read Full Post