Pakistan’s fiscal deficit in six months stands at 2.5pc of GDP

ISLAMABAD: The fiscal deficit of Pakistan in six months, ended in December 2020, stood at 2.5% of the GDP as compared to 2.3% in 2019.

According to details, the government released amount of Rs1475 billion under the head of mark-up payments. In the same period last fiscal year, mark-up payments stood at Rs281 billion.

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Amount released for defense expenditure stood at Rs487 billion in six months, ended in December 2020. During the same period last year, defense expenditure was around Rs529 billion.

Petroleum levy collection in six months was almost doubled. In the six months till December 2020, PL was Rs275 billion vs Rs 137 billion collected in the same period last year.

SBP profits declined by 12.7% to Rs372 billion in the six months ended December 31, 2020.

To bridge the fiscal deficit, external borrowing amounted to Rs454 billion in six months of 2020. To bridge the fiscal deficit, external borrowing amounted to Rs513 billion in six months of 2019.

Domestic borrowing in six months of 2020 was at Rs683 billion vs Rs481 billion borrowed last year.