Pakistan fiscal deficit soars drastically
ISLAMABAD: Pakistan Fiscal Deficit has soared in the first 3 months of the FY 2016-17.
The fiscal deficit has reached to Rs 110 billion in three months.
Between July to September, the fiscal deficit was 1.3 percent of Gross Domestic Product (GDP).
In order to end Rs110 billion deficits, the government is constantly sinking into debt.
Rs300 billion loans have been taken by the government in three months. According to Ministry of Finance, with three percent escalation defense expenditures reached Rs151 billion in the first three months of 2016.
Meanwhile Rs414 billion were spent for internal and external debt and interest payment.