Pakistan is facing a very difficult time. Because the country’s economy is in danger. with almost no chance of improvement in the near future.
Massively dangerous flash floods have worsened macroeconomic fundamentals.(Difficult economic era here) Despite restarting the IMF after a seven-month hiatus Flood disasters have seriously limited the incumbent government’s ability to provide economic assistance to the burdened.
Pakistan has been a victim of global warming, although it contributes less than 1%. The country expects significant support from the developed world during the COP27 UN climate change conference, which takes place in Egypt in November.
The most affected sector of the economy is the fundamental agriculture sector which is widely regarded as the backbone and the losses are so great that it cannot grow here and is expected to dissolve into Subtract instead of meeting the projected 3.9 percent goal in the current fiscal year.
More than 33 million people affected by floods need immediate help. More than Rs 25,000 first handout, officials recommend starting a cash-for-work program in affected areas aimed at people’s livelihood.
In fact, authorities fear the floods could cause cumulative losses of more than $40 billion, which is enormous. It was the first time the $40 billion loss was estimated. That’s three times the preliminary estimate of $10 billion to $12 billion. And the new figure is higher than the $30 billion figure UN Secretary-General Antonio Guterres said.
