In order to cover the Rs1.68tr deficit, the government had managed Rs682bn from external and Rs1,003bn from domestic sources. Of the total 6.37tr expenditures (14.5pc of the GDP), the government spent Rs1,879bn on domestic and foreign debt servicing, while Rs802bn was spent on the defence budget. Currently, the deficit is 3.8pc and this can be close to 10pc of the GDP during this year,” he said. Economist Muzammil Aslam told Pakistan Today that the budget deficit would go to 9pc to 10pc of the GDP due to the ongoing pandemic. The government has an estimated deficit of 7.1pc of the GDP and it recorded 3.8pc in nine months, he added.

Source: Pakistan Today May 06, 2020 17:05 UTC