Pakistan PM: Growth to fall by 2 percentage points, inflation may double because of floods
By APWednesday, September 1, 2010
Pakistani PM: Floods slow growth, raise inflation
ISLAMABAD — Pakistan’s prime minister is predicting that economic growth will fall by 2 percentage points to 2.5 percent because of this summer’s devastating floods.
Yousuf Raza Gilani also said Wednesday that inflation may hit 20 percent for the 2011 financial year, more than double its forecast.
THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP’s earlier story is below.
ISLAMABAD (AP) — Pakistan’s prime minister is predicting that economic growth will fall by 2.5 percentage points because of this summer’s devastating floods.
Yousuf Raza Gilani also said Wednesday that inflation may hit 20 percent for the 2011 financial year, more than double its forecast.
(This version CORRECTS that growth will fall 2 percentage points to 2.5 percent.)
