Budget deficit widens up to 2.5pc of GDP in first half of fiscal year
Provinces showed a surplus of Rs 255 billion in first six months of FY.
ISLAMABAD (Web Desk) - Budget deficit of Pakistan has increased to over Rs1137 billion in the first six months (July to Dec) of current fiscal year against Rs994 billion in the same period of the last financial year.
As per details, Revenue collection in first six months at federal level amounted to Rs2210 billion or 5.4% of GDP; however, mark up payments rose to Rs1475 billion or 3.2% of GDP and defense expenditure at Rs486 billion or 1.2% of GDP.
On the other hand, Provinces showed a surplus of Rs 255 billion against a surplus of Rs322 billion showing a drop of 21 percent.
Punjab in 2020 period showed a surplus of Rs146 billion against Rs119 billion in first half FY19. Meanwhile Sindh showed a surplus of Rs44 billion against Rs69 billion in the first six months of last fiscal year.
KPK in 2020 period showed a surplus of Rs19 billion against Rs76 billion in 1HFY19 while Baluchistan showed a surplus of Rs45 billion against Rs58 billion in 1HFY19
Petroleum levy in the first six months 2020 has almost doubled amounting to Rs275 billion against Rs137 billion in 2019; however government’s target is of Rs460 billion from petroleum levy in FY21.
