Woes to worsen as hike in budget deficit feared

Budget targets remain elusive as deficit is likely to swell beyond the government figures.It was expected budgets’ surplus would be in the range of Rs 125 billion, but contrary to it Punjab budget’s surplus was Rs 70 million, Sindh’s Rs 880 million and KPK’s 190 million. Balochistan budget on the other hand posted a deficit of Rs 6.7 billion. According to JS Research report, the country’s deficit may swell to Rs 975 billion – 4.6 percent of the GDP, 0.6 percent up from earlier estimates.Even this year the government would rely on local resources to handle deficit. Only one percent of deficit will be bridged by external sources.