In economics, the term ‘recession’ means “The reduction of a country’s Gross Domestic Product (GDP) for at least two quarters; or in normal terms, it is a period of reduced economic activity”.
Capitalism and Interest Based financial System are the root causes of world financial system’s failure. It is going to convert into economic crisis. If it is not going to handle properly, its results may be more adverse than Great Depression. Pakistan was in crisis right from the beginning but financial crisis is increasing its rate of knots.
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