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Fiscal deficit financing: government borrowing increases interest payment to 58.5 percent.
Byline: ZAHEER ABBASI
The government borrowing for financing of fiscal deficit has increased the interest payment to 58.5 percent of the total net estimated revenue during the current fiscal year, official documents revealed. The government has earmarked Rs 699 billion in current fiscal year budget for interest payment, which has now been increased to Rs 727 billion due to borrowing by the government for financing of fiscal deficit and high interest rate by the State Bank of Pakistan to tame the inflation.
The total estimated net revenue available with the federal government is Rs 1,242 billion after Rs 993 billion transfer to the provinces against interest payment …
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