With hopes for higher economic growth and lower inflation, the Ministry of Finance has released its Medium-Term Macroeconomic Framework, which offers a positive economic prognosis for the next fiscal year.
The report from the Finance Ministry predicts that in the fiscal year 2025–2026, GDP growth will amount to 4.8%. In addition to this rise, inflation in the upcoming year is predicted to drop from the current 12% to 7.5%.
It is anticipated that tax collection for the Federal Board of collection (FBR) will rise to Rs15,555 billion. The fuel levy is anticipated to bring in Rs1,388 billion from customers, while non-tax income collection is projected to total Rs3,851 billion.
Notwithstanding these encouraging signs, the government projects a sizable Rs9,655 billion budget deficit.
Notwithstanding these encouraging signs, the government projects a sizable Rs9,655 billion budget deficit. It is anticipated that the interest paid on loans will be more over Rs10,000 billion, with Rs10,283 billion set aside for loan interest.
