Islamabad: A report issued by the Ministry of Finance reveals that during the first quarter of the ongoing fiscal year, the country’s budget incurred a deficit of PKR 962.801 billion.
According to government figures, the budget deficit for the first three months has reached 0.9 percent of the GDP. During this period, defense expenditures amounted to a total of PKR 3.648 trillion against the total revenue of PKR 2.685 trillion.
Based on fiscal operation data, the current expenses amounted to Rs3.172 trillion, out of which a total of PKR 1.379 trillion and 612 million rupees were spent on the repayment of domestic and foreign loans, defense spending was PKR 343.068 billion, pension costs of Rs203.303 billion, civil government operational expenses of Rs131.917 billion, subsidies totaling Rs2.488 billion, and grants to others reaching Rs177.303 billion. Development spending and net lending accounted for Rs282.387 billion. The Federal PSDP allocated Rs40.925 billion, while provincial funding reached Rs245.53 billion, with a statistical discrepancy of Rs193.563 billion.
The total budget deficit was Rs962.801 billion, equivalent to 0.9 percent of the budget. This deficit was financed through net external borrowing of Rs425.170 billion and domestic (net) borrowing of Rs537.631 billion. The primary balance recorded was Rs416.811 billion, representing 0.4 percent of the total.