Business

Federal budget due June 9th

Express May 03, 2010

ISLAMABAD:

The government has decided to present the federal budget for the next fiscal year on June 9, in the National Assembly.

A senior officer of the finance ministry said on Monday that all ministeries and divisions have been formally informed of the announcement date.

Details of the estimated budget for the next fiscal year will be submitted in national assembly sessions by the end of this month.

In accordance with projections set by the government for the next three years, sources say the expected volume of the budget is Rs 2,281 billion.

A budget deficit of Rs 992 billion which is six per cent of the GDP is also predicted for the coming fiscal year.

COMMENTS (2)

Syed A. Mateen | 14 years ago | Reply Every one knows before the announcement of the budget of next fiscal year that it will disappoint every one in the country, except those who are sitting in the power corridors. It is one month from now and finally the cat is going to be out of the bag. I have never seen any budget in my life time which would have brought relief for the poor the people. After the announcement of 2010-2011 budget, more people will go beyond the poverty line.

Meekal Ahmed | 14 years ago | Reply I hope the budget deficit is not 6% of GDP for next year. This is likely to be the outcome for the present year when the full outturn is known which means that there will be no fiscal adjustment. If there is no fiscal adjustment it will mean that monetary policy will have to shoulder the burden of bringing inflation down. Interest rates will thus have to be higher than they need to be, stifling growth. Such an unbalanced policy mix is a bad way to run an economy.

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