ISLAMABAD: Pakistan’s budget deficit would touch 6.7 per cent of the Gross Domestic Product (GDP) during the fiscal year 2012, revealed International Monetary Fund (IMF) Fiscal Monitor of April 2012 released on Tuesday.
Compared with IMF projections, government’s claim is that it would contain the budget deficit at 4.7 per cent of the GDP, excluding 1.8 per cent of the GDP power and commodity financing adjusted of the previous fiscal year.
Pakistan’s revenues to be 12.8 per cent of the GDP during 2012 and would increase to 13.9 per cent of the GDP by 2017. Government’s expenditures, which are expected to be 19.2 per cent of the GDP 2012, likely to decrease to 18.8 per cent of the GDP by 2017.
Gross debt of the country to reach at 61.1 per cent in 2012 and would come down to 53.2 per cent of the GDP by 2017. Net debt of the country to be 58.5 per cent of the GDP and would come down to 50.4 per cent of the GDP by end of 2017. During 2012 Pakistan’s debt maturity is going to reach at 23.3 per cent of the GDP and its financing needs would be 30 per cent of the GDP. During 2013, Pakistan’s debt maturity to reach at 24.3 per cent of the GDP, its budget deficit to reach at 6 percent of the GDP and its financial needs to go up to 30.3 percent of the GDP.
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