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fiscal deficit of pakistan

The deficit was recorded at 4.1pc in the last quarter of 2019-20, whereas it remained at 4pc from July to March FY20. January 24, 2021 (MLN): The weekly economic roundup summarizes the country's key economic and financial data for the week from various sectors to keep an eye on next week's trends. Copyright © 2021. Editors: Zaman Khan I Abdullah Niazi I Mariam Zermina I The Fed's preferred inflation measure, the PCE price index, is running at just over one percent as of November. Also, the Board of Directors of Cherat Cement Company Limited, in its meeting held on January 18, 2021, decided to undertake BMR for Cement Line 1 and install the main Crusher. On Thursday, the government increased the electricity tariff by 1.95 rupees per unit against the proposed raise of 2.18 rupees per unit, due to the burden that capacity charges will reach 1,455 billion rupees by the end of 2023, Minister for Power Division Omar Ayub announced on Thursday. The same day, a meeting of the Cabinet Committee on Energy (CCOE) was held under the Chairmanship of Federal Minister Asad Umar, wherein the committee approved a proposal for discontinuation of natural gas supply for power generation. According to sources, the fiscal deficit was actually 8.1pc in June 2020 as compared to the revised estimates of 9.1pc published in the budget. Pakistan’s loan from the IMF could be in jeopardy if the trend of the government missing revenue target continues. ISLAMABAD: Pakistan’s fiscal deficit shrunk to 8.1pc of Gross Domestic Product (GDP) during the fiscal year 2019-20. 710 million for the setting up of the company’s four-wheeler project, up to December 31, 2020. The Executive Committee of the National Economic Council (ECNEC) Thursday, In a major achievement towards ensuring ease of doing business, Pakistan has improved 31 positions, from 142nd to 111. However, a slump in imports will cut Pakistan's current account deficit to $4.5 billion in the fiscal year, from $13.8 billion in 2019. The IMF expects the budget deficit, the gap between expenditures and revenues, to be 6.7 percent of GDP in the current fiscal year. In terms of Rupees, the country’s total budget deficit in FY20 clocked in at Rs 3.376 trillion, whereas, in FY19 it stood at Rs 3.444 trillion. The estimates say the economy will contract 1.5% for financial year 2020 against a rise of 3.29% in 2019. Keywords: trade deficit, fiscal deficit, Granger causality, ARDL, Pakistan JEL Classification: E62, F14, H62 The trade deficit and fiscal deficit have attracted considerable research attention in the development economics because of a persistently large increase in these deficits across the lower competitive developed and developing countries. Besides, Hi-Tech Lubricants Ltd. (HTL) and Hyundai Nishat Motor (Pvt.) Besides, the government on Thursday issued revised profit rates for National Saving Schemes certificates, which will be put into effect from January 21, 2020. On the upside, in a major achievement towards ensuring ease of doing business, Pakistan improved 31 positions, from 142nd to 111th, on the rank of Trading Across Border Index. Fiscal Expenditure in Pakistan increased to 8345.60 PKR Billion in 2019 from 7488.40 PKR Billion in 2018. The compressed natural gas (CNG) stations in the Sindh have reopened after remaining closed for six days. But the historic nature of the job losses during the pandemic -- more than 10 million US workers remain unemployed -- coupled with the likelihood inflation in some sectors could spike once the recovery takes hold, will test the Federal Reserve's limited toolkit. Ltd, US Fed holds first policy meeting of Biden administration, Provision of inexpensive houses to poor top priority: PM, Eurozone inflation rises to 1.3% in December. 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