Tag: fiscal deficit
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Pakistan’s fiscal deficit falls to 6.8% of GDP in FY24
In the fiscal year 2023-2024, Pakistan’s fiscal deficit decreased to 6.8 per cent of GDP, down from 7.7 per cent the previous year, according to data from the Finance Ministry. In nominal terms, however, the fiscal deficit expanded to Rs7.21 trillion, up from Rs6.52 trillion the year before. Despite this, the country achieved a primary…
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Pakistan’s central govt debt hits record Rs67.82 trillion in May 2024
In May 2024, the central government’s total debt reached a record high of Rs67.82 trillion, marking a 15.01 per cent increase.
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Pakistan’s ambitious FY25 Budget could secure IMF deal, says Fitch
On Tuesday, Fitch Ratings characterised Pakistan’s budget for the fiscal year 2024-25 as “ambitious,” noting that it enhances the likelihood of securing a deal with the International Monetary Fund (IMF).
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Rising debt levels: Pakistan’s national debt surpasses Rs61 trillion
The federal government has witnessed a substantial increase in its total debt, which has surged to nearly Rs62 trillion. This significant escalation is primarily attributed to the government’s strategic borrowing from both domestic and foreign sources, a measure aimed at covering the fiscal deficit. According to The News, data from the State Bank of Pakistan…
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Govt to implement Rs7 per unit power tariff hike, expecting over Rs3.2 trillion in revenue
The government is planning to raise the power base tariff by approximately Rs7 per unit. This move is expected to generate over Rs3.2 trillion in additional revenue from power consumers. The International Monetary Fund (IMF) Executive Board is set to discuss a stand-by arrangement, which is the final step in solidifying the IMF Staff Level…
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Pakistan’s nuclear program not linked to loan negotiations, says IMF representative
The International Monetary Fund (IMF) has refuted allegations that it imposed any conditions on the revival of a loan program that had been suspended for several months despite ongoing discussions between the two parties. Pakistan has been in discussions with the IMF since early February to negotiate the terms of the deal, which includes the…
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Pakistan ‘very close’ to signing staff-level agreement with IMF, says Finance Minister
Finance Minister Ishaq Dar has reaffirmed his team’s commitment to completing Pakistan’s $7 billion Extended Fund Facility programme with the International Monetary Fund (IMF). Speaking at a seminar organised by the Finance Ministry in Islamabad, Dar acknowledged the need for swift implementation of measures to reach an agreement with the IMF as the country has…
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Weekly inflation in Pakistan jumps to 41.07% due to edible oil, sugar prices
According to data provided by the Pakistan Bureau of Statistics (PBS) on Friday, edible oil, sugar, and vegetables helped drive the weekly inflation up to 41.07 percent on an annual basis. Sensitive Price Index (SPI) measurements of short-term inflation were still on the high side and would go up much more once customers start to…
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Pakistan’s current account deficit shrinks to $1.2 billion, reflecting decline in imports
According to figures provided by the State Bank of Pakistan (SBP) on Wednesday, Pakistan’s current account deficit (CAD) decreased to $1.2 billion in July from $2.2 billion in June, reflecting a 45.45 per cent month-over-month decrease. The SBP ascribed the dip to a significant reduction in energy imports and ongoing moderation in other imports. “The…