(Bloomberg) Pakistan plans to spend its way out of the pandemic-induced slump, with a new budget that seeks to put more money in the hands of people and boost economic activity.
LAHORE/KARACHI: Economists believe that the government has given relief to the industry for the easily achievable 4.8 percent GDP growth for the next fiscal, but it would have to be vigilant of.
Pakistan announced a budget Friday of 8.4 trillion rupees ($54 billion) for the next fiscal year, basing it on an ambitious growth target of 4.5 percent and tripling spending on public sector development with an election just two years away.
Finance Minister Shaukat Tarin's presentation to the National Assembly drew jeers from opposition lawmakers, who thumped their desks and chanted "Imran Khan is a thief", a reference to the Prime Minister.
Pakistan announced a budget Friday of 8.4 trillion rupees ($54 billion) for the next fiscal year, basing it on an ambitious growth target of 4.5 percent and tripling spending on public sector development with an election just two years away. To fund the budget, the government has set a tax revenue collection target of nearly six trillion rupees, compared with 4.5 trillion this year.