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Counting our deficits

With this week’s advent of Ramazan, our lives have changed in some tangible ways. Our daily routines have acquired a new rhythm. At least in these initial days of the…

The IMF-govt trust deficit

The Pakistani public is being subjected to extremely disturbing macroeconomic indicators with each subsequent update showing a worsening trend - data-set sourced to government entities, including the Pakistan Bureau of…

Budget with a sanity deficit

At a time when Pakistan is going through some of the worst economic challenges in its chequered history, the federal government has come up with a budget that speaks volumes…

Burgeoning budget deficit

The information on fiscal operations in 2021-22 has just been released by the Ministry of Finance. These figures are based on information from the AGPR (Accountant General of Pakistan Revenue),…

Burgeoning fiscal deficit

The information on fiscal operations during the first three quarters of 2021-22 has been released recently by the Ministry of Finance. The financial position of the Federal government appears to…

Burgeoning federal govt debt

The SBP has recently released the estimates of the Federal Government debt as of the end of May 2020. This includes all debts which are serviced out of the Federal…

Lower budget deficit in 2019-20

The information on fiscal operations in 2019-20 by the federal and provincial governments was released a few days ago. The very pleasant surprise is that the consolidated fiscal deficit has…

Raise in federal govt employees’ salaries

The federal cabinet has recently approved a special allowance to employees equal to 25 percent of the basic pay with effect from the 1st of March 2021. This increase has…

Fiscal federalism

The stagnant fiscal space and mounting debt repayment requirements pose enormous challenges to long-run fiscal sustainability. Apart from budgetary space and debt obligations, the rules of the game defined under…

Current Account Deficit: a wake-up call

The optimism displayed by the Federal Finance Minister Ishaq Dar on his handling of the economy, based on not only the controversial data released by those entities that are under…