ISLAMABAD: The International Monetary Fund (IMF) has upward revised the budget deficit (excluding grants) to 7.7 percent of the GDP for the current fiscal year from 7.5 percent.
The Fund has also revised upward government expenditure (including statistical discrepancy) from 19.8 percent of the GDP to 20.2 percent of the GDP.
The fund has downward revised real GDP growth to two percent from 2.5 percent for the ongoing fiscal year. Consumer price inflation has been projected at 24 percent. Primary balance (underlying, excluding grants) at 0.4 percent of the GDP and government average debt (including IMF obligations) has been projected at 72.8 percent of the GDP. The current account balance has been projected by the Fund at negative 1.6 of the GDP while gross official reserves US$13 billion.
Solving the ‘current account deficit’ problem
The government and government guaranteed debt (including IMF has been projected at 76.8 percent and total government debt excluding IMF obligations has been revised upward from 68.4 percent of the GDP to 70.3 percent of the GDP. The government debt including IMF obligations has been estimated at 72.8 percent. Fund projected domestic debt at 42.9 percent of the GDP and external debt 30 percent of the GDP.
Copyright Business Recorder, 2024
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