ISLAMABD – The outgoing PML N Federal Government has left a huge fiscaldeficit for year 2017-18 against all the tall claims.
Federal government missed the fiscal deficit target of 4.1 percent set for2017-18 as the deficit reached nearly 6.6 percent of the gross domesticproduct because of higher spending.
As per the details garnered, the budget deficit reached nearly Rs2,260Billion or 6.6 percent of the GDP as compared with Rs.1,863 Billion or 5.8percent of the GDP of 2016-17.
The revenue collection in FY18 increased by 11.50% to Rs4,065 Billion withtax collection reaching 13% of GDP compared to 12.5% in FY17, while thesales tax collection increased by 12.7% to Rs1,491 Billion.
Interest and principal repayments increased by 11.3% to Rs1,499 Billionwhile defence expenditure increased by 16% to Rs1,030 Billion.