Twirp : Terrorist Wahabi Islamic Republic Pakistan

[Naresh]

[center]<b><span style='font-size:21pt;line-height:100%'>Budget deficit widens to Rs 356 Billion</span></b> <!--emo&:flush--><img src='style_emoticons/<#EMO_DIR#>/Flush.gif' border='0' style='vertical-align:middle' alt='Flush.gif' /><!--endemo-->[/center]

<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->ISLAMABAD — Contrary to official estimate to restrict the fiscal deficit at 4 per cent of GDP by June 30, 2008, Pakistan’s budget deficit has widened to 3.6 per cent of GDP during first-half year (July-December 2007-08).

Summary of Fiscal Operations, a copy of which available with The Nation, shows that during the first half of the financial year 2007-08, the economic managers remained unsuccessful to contain the deficit despite the repeated rhetoric to meet desired targets.

The government ended up at 3.6 per cent dearth that is near to the annual target and is more than the first-half year projection. <b>For the first six months the deficit was estimated at 1.9 per cent of GDP or Rs 190.68 billion.</b>

In absolute terms the deficit remained at Rs 356.321 billion. The total income during the under review period stood at Rs 625.591 billion whereas the total expenditures recorded at Rs 981.912 billion.

According to the budget documents, Shaukat Aziz-led economic team projected fiscal deficit at Rs 398.73 billion or 4 per cent of GDP. The government estimated total revenue at Rs 1475.909 billion and total expenditures at Rs 1874.672 billion.<!--QuoteEnd--><!--QuoteEEnd-->

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