Flood losses may slash Pakistan’s GDP to 3%

PTI

Updated At : 11:59 AM Sep 11, 2022 IST

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Islamabad, September 10

The massive losses from the catastrophic monsoon rains and floods in Pakistan, the war in Ukraine and other factors may force Pakistan to slash its GDP growth rate for the financial year 2022-23 from 5 per cent to 3 per cent, according to media reports on Saturday.

Chairman of the National Flood Response and Coordination Centre (NFRCC), Major General Zafar Iqbal, during the joint briefing for Prime Minister Shehbaz Sharif and UN Secretary-General Antonio Guterres, said that at least one-third of Pakistan was inundated, while the overall damages would amount to over $30 billion.

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