Sub heading: The primary Deficit of the country reached 2,077 Billion, 3.1 percent of GDP
Islamabad August 20 2022: As per the latest data released by the Ministry of Finance, Pakistan’s Budget deficit reached PKR 5,260 Billion during the fiscal year 2021-22. It is the highest deficit that the country reported. The quantum of the deficit has increased by 55 percent compared to the fiscal year 2020-21.
Pakistan’s Budget Deficit has reached 7.9 percent of GDP during the fiscal year 2021-22.
The total revenue of the country has increased by 16 percent to PKR 8,035 billion during the fiscal year 2021-22 compared to PKR 6,903 billion during the fiscal year 2020-21.
The tax revenue of the country has increased by 28 percent to PKR 6,755 billion during the fiscal year 2021-22 compared to PKR 5,273 billion during the fiscal year 2020-21.
FBR tax revenue of the country has increased by 29 percent to PKR 6,143 billion during the fiscal year 2021-22 compared to PKR 4,764 billion during the fiscal year 2020-21.
The growth in FBR taxes the witnessed due to a 32 perching increase in Direct Taxes to PKR 2,280 billion during the fiscal year 2021-22 compared to PKR 1,732 billion during the fiscal year 2020-21. Indirect taxes also increased by 27 percent to PKR 3,862 billion during the same year compared to PKR 3,032 billion during the fiscal year 2020-21.
Non-tax revenue decreased by 21 percent to PKR 1,280 billion during FY22 – 1.9 percent of GDP
Total Expenditure also increased by 29 percent to PKR 13,295 billion during the fiscal year 2021-22 compared to PKR 10,307 billion during the fiscal year 2020-21. The rise in total expenditure is backed by a 27 percent increase in current expenditure to PKR 11,521 billion.
Mark-up payment also increased by 16 percent to PKR 3,182 billion during the fiscal year 2021-22 compared to 2,750 billion during the fiscal year 2020-21.
The overall deficit of the country clocked in at PKR 5,260 billion which is 7.9 percent of GDP and primary deficit also increased by 218% to PKR 2,077 billion – 3.1 percent of GDP.
