According to the Ministry of Finance, the inflation rate is expected to be 25 to 27 percent this year. Due to the flood, the country’s economy has suffered a blow of more than 2 thousand billion rupees.
The target of 3.5% economic growth will not be achieved due to the flood itself. The growth rate target was reduced to 2.3%.
The target for major crops is likely to be reduced from 3.9% to 0.7%.
According to the Ministry of Finance, the country’s economy, burdened by balance of payments and debt, was further damaged by the floods. It needs support from friendly countries to manage.
The Ministry of Finance says that despite the approval of the loan from the IMF, Pakistan’s difficulties have not reduced.