Govt borrows Rs1.43tr from central bank in six months
State Bank prints new currency notes to finance govt expenditureKARACHI: The central bank has printed new currency notes worth over Rs1 trillion to finance government expenditure, but a notable part of the banknotes is fueling the parallel economy due to higher taxes on cash withdrawal from banks. Govt seeks approval for nearly $1b polio eradication planThe government borrows to meet its budgetary shortfall. “We estimate the fiscal deficit at 6% (Rs2.2-2.3 trillion) in FY19,” he said. Govt to get weaker by next budget: SanaImpact of rupee depreciationThe massive rupee deprecation against the US dollar has also caused the widening of fiscal deficit in the ongoing fiscal year. But the move has widened the fiscal deficit by Rs654.77 billion in the past six months.
Source: The Express Tribune January 05, 2019 03:45 UTC
