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Daily Times
April 29, 2021
Owing to the government’s efforts, the fiscal deficit during the first eight months (July-February) of the current fiscal year has been contained at 3.5 percent of the Gross Domestic Product (GDP).
“Despite higher mark-up payments and COVID-related expenditures, the fiscal sector continues to perform better as a result of the government’s efforts to maintain fiscal discipline,” says Monthly Economic Update and Outlook for April 2021.
According to the report the first eight months of the current fiscal year witnessed an increase of 9.2 percent in net federal revenue receipts to reach Rs.2188 billion as compared to Rs.2003 billion last year. The total expenditures grew by 1.3 percent to Rs.4132 billion during July-February, FY2021 as compared to Rs.4079 billion last year. “Thus the fiscal deficit has been contained to 3.5 percent of GDP during July-February, FY2021,” the report adds. On the other hand, the primary balance posted a surplus of R
Finance ministry hopes economic recovery despite third corona wave
Top Story
April 28, 2021
ISLAMABAD: Amid the third wave of COVID-19, the finance ministry has highlighted risks to different sectors, saying the economic recovery got hampered but Pakistan is grappling with the fresh wave.
With timely appropriate measures taken by the government to tackle the third wave, risks have been mitigated thus better prospects of economic growth are visible, the ministry hoped. It also projected that all in all, inflation is expected to remain between 8.0-9.5 per cent next month. However, from the beginning of the next fiscal year, assuming the absence of any new supply shocks, favorable base effects may start to drive Y-o-Y inflation to lower levels. However, independent economists believe the monthly inflation will enter into a double-digit from next month.
The finance ministry has predicted low inflation and acceleration in economic activities in the second half of current fiscal year but it is unsure about the inflation reading for this month and has given a wide range of 5.5% to 7.5%.