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FY20 sees fiscal deficit at 8.1pc of GDP

FY20 sees fiscal deficit at 8.1pc of GDP

ISLAMABAD: Pakistan’s fiscal deficit came in at 8.1 per cent of GDP in 2019-20 amounting to Rs3376 billion.

The data released by the Ministry of Finance, out of this fiscal deficit plugged through domestic borrowing of Rs2480 billion while external borrowing to plug deficit amounted to Rs 896 billion.

Mark up payments in FY20 amounted to Rs2619 billion while defense expenditure in FY20 amounted to Rs1213 billion. Mark up payment was around 6.3% of GDP while defense expenses was at 2.9%.

In FY19 fiscal deficit was 8.9% of GDP, mark up payment was 5.4% of GDP and defense expenses was at 3% of GDP.

Budget deficit in FY19 amounting to Rs 3444 billion, out of this fiscal deficit plugged through domestic borrowing of Rs 3028 billion.

While external borrowing to plug deficit amounted to Rs 417 billion, mark up payments in FY19 amounted to Rs 2019 billion.