Financial deficit recorded Rs 515b in first six months of FY2015-16
At least Rs 632 billion were utilized to pay off debts and interests on loans
ISLAMABAD (Dunya News) – Financial deficit in the first six months of the Fiscal Year (FY) 2015-16 was recorded more than Rs 515 billion, Dunya News reported Tuesday.
To government’s credit, the deficit is around Rs 136 billion lesser than the last fiscal year’s first six months.
According to Finance Ministry’s review report, the current deficit piled up in first six months of FY 2015-16 is equal to 1.7 percent of total production. Deficit had run above Rs 650 billion in Fiscal FY 2014-15 which was equal to 2.2 percent of the then total production.
Report further states that the government spent around Rs 422 billion on welfare projects while Rs 303 billion on defense in the first six months of FY 2015-16.
At least Rs 632 billion were utilized to pay off debts and interests on loans.
