The devastating floods will likely cancel out most of the economic growth in the current fiscal year, says a recent report released by the Asian Development Bank (ADB).
However, the ADB revised down its growth estimate even further in its new report, reducing it by a whole percentage point to just 3.5%.
ADB’s country director noted that the floods and the damage in their wake have added “profound risk to the country’s economic outlook”.
Glasp is a social web highlighter that people can highlight and organize quotes and thoughts from the web, and access other like-minded people’s learning.