Pakistan's fiscal deficit widens to 1.4pc during first quarter of fiscal year 2018-19
The total revenue for the quarter (July September) stood at Rs1,102 billion
ISLAMABAD (Dunya News) – Pakistan’s fiscal deficit has widened to 1.4 percent of the gross domestic product (GDP) during the first quarter of Financial Year 2018-19 (FY19), as compared to the deficit of 1.2 percent in the corresponding quarter of the last fiscal year.
According to a statement issued by the finance ministry on Friday, the total revenue for the quarter (July – September) stood at Rs1,102 billion as against a total expenditure of Rs1,643.77 billion. The GDP size for the fiscal year 2018-19 was estimated at Rs38,388 billion.
In contrast, the total revenue during the first quarter of FY18 was recorded at Rs1,025 billion as against the total expenditure of Rs1, 465.9 billion. The GDP size for the same period of the last fiscal year was estimated at Rs35,919 billion.
The budget deficit of Rs541.67 billion for the quarter July – September 2018/2019 was met through external borrowing of Rs210.77 billion and domestic borrowing of Rs330.91 billion.
