Budget deficit during 9M FY hits 4.3 percent of GDP

According to Ministry of Finance, Budget deficit during the outgoing nine months has widened to 4.3 percent compared to 3.9 percent during the same period last year.

During the initial budget announcement, Budget Deficit was set at the target of 4.1 percent. But recent data shows that the deficit is set to cross the target announced in the budget document.

The budget deficit was financed through external borrowing of Rs. 524 billion.

Furthermore, interest payments during July to March of fiscal year 2018 amounted to Rs. 1,172 billion compared to the Interest payments during July to March of fiscal year 2017 at Rs. 1,094 billion.

According to the documents, the defense expenditure amounts to Rs. 624 billion during July to March of current fiscal year posting a 16.41 percent increase from last fiscal year’s tally of Rs. 536 billion.

Collection of Revenues during the outgoing nine months has reached Rs. 2,796 billion up 13.52 percent from same period last year’s tally of Rs. 2,463 billion.

Posted on: 2018-05-22T11:31:00+05:00