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Pakistan Forecasts Economic Growth to Halve Following Floods

Villagers receive relief supplies in Dadu district, Sindh province, Pakistan, on Sept. 1.

Villagers receive relief supplies in Dadu district, Sindh province, Pakistan, onSept. 1.

Photographer: Asim Hafeez/Bloomberg

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Pakistans government slashed its economic growth projections by over fifty percent in comparison to its previous estimate after flooding inundated a third of the united states.

The floods have made previous projections irrelevant and economic growth is estimated at 2.3% now, in accordance with initial calculations by the Ministry of Planning Development and Special Initiatives. The federal government had set a target of 5% growth in June.

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