Pakistan's economic growth may be negative this year. 


Pakistan may suffer an economic loss of more than $ 40 billion due to severe floods.

This has been estimated in a report.

This figure is more than the estimate of $ 30 billion by United Nations (UN) Secretary-General Antonio Guterres.

He was on a visit to Pakistan last week.

The newspaper Express Tribune said in a report released on Tuesday that the meeting of the National Flood Response Coordination Center (NFRCC) has estimated economic losses of $ 40 billion.

In this meeting, the Finance Ministry presented a report titled 'Preliminary assessment of the impact of floods on Pakistan's economy'.

The Finance Ministry's initial assessment report estimated the economic loss due to the floods to be around $18 billion.

"The catastrophic conditions suggest that the extent of flood damage could range from $30 billion to more than $40 billion," said Ehsan Iqbal, Pakistan's planning minister and chairman of the NFRCC.

According to a finance ministry official involved in preparing the preliminary assessment report, if the deficit rises to $40 billion, it means Pakistan's economic growth could be negative this year.

Also, inflation may cross 30 per cent due to supply chain constraints.

More than 33 million people have been affected by the floods in Pakistan, who are in need of immediate assistance.

(This news has not been edited by NDTV team. It has been published directly from Syndicate feed.)