Budget deficit for FY19 stands at Rs.3.4 trillion
MG News | August 27, 2019 at 05:48 PM GMT+05:00
August 27, 2019 (MLN): Government of Pakistan’s revenue collection in fiscal year 2019 adds up to Rs.4.9 trillion of which Rs.4.5 trillion were collected as tax by the federal and provincial government.
The total expenditure on the other hand, exceeded the revenue by Rs.3.44 trillion as it was recorded at Rs.8.35 trillion. Out of this sum, current expenditure accounts for Rs.7.1 trillion while development expenditure was recorded at Rs.1.2 trillion.
The budget deficit worth Rs.3.44 trillion was mainly financed by local banks who lent around Rs.2.3 trillion to the government, while other local institutions lent around Rs.765 billion. External financing for the year has been recorded at Rs.4.17 billion.
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