The budget primarily focuses on Pakistan’s fiscal policy, which will aim to keep the country’s economic growth above 5% while also managing declining Foreign Exchange reserves and maintaining balance-of-payments control.
Debt, defence, deficit, and development are the four most important D’s in the budget. Development investment has the greatest impact on growth, while debt and defence spending are mainly non-productive and account for around 60% of the budget outlay.
The budget for 2022-23 is mostly based on regressive measures, with the primary goals of lowering inflation, reducing the fiscal deficit, and reducing the current account deficit.
The government of Pakistan will present its budget for the next fiscal year 2022-23 in the National Assembly of Pakistan today, June 10, the last month of the previous fiscal year 2021-22. The budget speech will be delivered by the finance minister in the evening, and the decision to implement the new budget will take a few days.
Follow the latest updates on Budget 2022-23 in real-time as they get revealed.
The Prime Minister has rejected the Finance Ministry’s proposal of a 10% increase and has approved an increase in government employees’ salaries of 15% with the consent of the cabinet. Alsomerging of adhoc allowances into the basic pay is approved #Budget_for_economic_stability
— Marriyum Aurangzeb (@Marriyum_A) June 10, 2022