Pakistan has reported Rs371 billion in economic losses to the International Monetary Fund (IMF) as a result of recent floods that seriously harmed agricultural and infrastructure.
According to The News on Wednesday, the National Economic Council (NEC) and parliament had approved the government’s real GDP growth target of 4.2% for the current fiscal year (FY26) at the time of the budget.
Authorities, however, have projected a downward modification of the aim by 0.3 percentage points, to 3.9%, in light of the flood-related damages.
Using the precedent of China’s ambassador’s commitment before the IMF last time, Ministry of Finance officials briefed the IMF review mission on the $26 billion in external funding needs, of which $12 billion will be rolled over.
