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Pakistan’s Budget Lacks Major Revenue | Moody's Shocking Analysis | Dunya News

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The budget presented by Pakistan’s federal government lacks major revenue-raising or spending-containment measures to alleviate intense government liquidity pressures, says Moody’s Investor Services (Moody’s).

The Rating Agency stated that given a lack of new significant revenue-raising measures, the government’s revenue projections rely mainly on the assumption that nominal GDP growth will be high and support an increase in revenue. In the current context, we see significant downside risks to that assumption. Pakistan’s very weak debt affordability drives high debt sustainability risks.

On 9 June, the government presented its budget to Parliament. The consolidated (federal and provinces) budget was projected at Rs. 19.5 trillion. The budget deficit is estimated at 6.5 percent of GDP, narrowing from an estimated deficit of 7.0 percent in fiscal 2023.

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