Fiscal deficit contained at 0.3 pc of GDP

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The fiscal deficit during the first month of the current fiscal year (FY2022-23) has been contained at 0.3 percent against the deficit of 0.4 percent recorded during same month of last year, according to latest report of Finance Ministry.

The primary balance during July FY2023 posted a surplus of Rs 142 billion against the deficit of Rs 5 billion in July FY2022, says ‘Economic Update and Outlook for September 2022’ released by Finance Ministry here on Friday.

According to the report, the net federal revenues in July FY2023 increased by 9.3 percent to Rs 229 billion against Rs 209 billion in the same period last year while the total expenditures increased by only 3.7 percent to reach Rs 536 billion in July FY2023 compared to Rs 517 billion in the same month last year.

Within the total, current expenditures increased by 8.0 percent to Rs 531 billion in July FY2023 as compared to Rs 492 billion in the same period last year, it added. According to the report for FY2023, the fiscal deficit had been budgeted to reduce to 4.9 percent of GDP, while the primary balance is a surplus of Rs 153 billion—APP

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