Summary The previous financial year saw an economic growth of 4.1%.
ISLAMABAD (Dunya news) – The Ministry of Finance on Monday presented details of the country’s international and national debts along with fiscal policy statement. According to the details, Pakistan’s international debt has passed 65 billion dollars.
The government’s national debt has risen to Rs. 11,106 billion. The international debt rose to 4.78 billion dollars while national debt rose to Rs. 1,398 billion in the previous financial year. According to the documents, Rs. 1,460 billion were spent on paying back the debts. Rs. 1072 billion were spent on paying the national loan while Rs. 312 billion were spent on paying back international loans. The country’s international debt rose by 57 billion dollar due to a decrease in value of rupee. A national loan of Rs. 186 billion was also taken during first quarter of this financial year.
The previous financial year saw an economic growth of 4.1%. The fiscal deficit was seen at 5.5%. An overall expense of Rs. 5,241 billion and an overall gain of Rs. 3,304 billion were seen.
According to the official statistics, Rs. 306 billion were spent on overall subsidies. A subsidy of Rs. 292 billion was given on electricity. A tax of Rs. 2,266 billion was collected against a target of Rs. 2,475 billion. Direct tax contributed 39% while indirect tax contributed 61% to the revenue. The provinces presented a surplus budget of Rs. 1.5 billion.
