Budget deficit swells to 5 percent in nine months, higher than fiscal year target

ISLAMABAD: The country’s budget deficit soared to 5 percent in the first nine months of current fiscal year, which is already higher than the full year target of 4.9 percent.
According to statistics issued by the ministry of finance on Tuesday, the budget deficit for July –April 2018/2019 increased to five percent, which was 4.3 percent in the same period of the last fiscal year.
According to the ministry the total revenue to the GDP was 9.3 percent during first nine months whereas the expenditure to the GDP swell to 14.3 percent of the GDP during the period under review.
The statistics showed that the total revenue were at Rs3,583 billion during July – March 2018/2019, out of which tax revenue were at Rs3,162 billion. The collection of tax by the federal government was at Rs2,874 billion and provincial share was Rs287.7 billion.
Total expenditure during the period was Rs5,506 billion. The current expenditure was at Rs4,798 billion and development expenditure was at Rs684 billion.

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