Finance Czar Sees 4% Growth

Finance czar sees 4% growth

Finance Minister Muhammad Aurangzeb has projected Pakistan's economic growth between 3.5 and 4 per cent for the current fiscal year despite the severe impact of recent monsoon floods that devastated farmland, displaced over four million people, and killed over 900 across the country. In an interview with Bloomberg, the finance minister said the initial assessments showed damage to the country's rice and cotton sectors, adding more detailed damag…

Aurangzeb says Pakistan economy remains stable despite floods

ISLAMABAD: Federal Finance Minister Muhammad Aurangzeb has said that while Pakistan’s economy has faced a setback due to the recent floods, the country remains on a path of stability and recovery. In an interview with Bloomberg, the finance minister acknowledged that the devastating floods had severely damaged the nation’s rice and cotton crops, two of Pakistan’s major export commodities. He emphasized that climate change is not an ideological i…

Floods likely to hit Pakistan’s growth outlook, Aurangzeb tells Bloomberg

Finance Minister Muhammad Aurangzeb said that the recent floods, which inundated large swathes of agricultural land in the country, is likely to hit Pakistan’s economic growth this year. In an interview with Bloomberg News in Washington on Thursday, Aurangzeb shared that the government’s initial assessments showed damage to the country’s rice and cotton sectors, while a more detailed damage assessment will take place in the coming months. “This …