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ppsc paper
created Feb 20th, 13:42 by Zohaib2
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Until recently the *Pakistanis <kept insisting that the <GDP >growth in FY19 was @ around ~3.3%. But the latest data released by Pakistan's National Accounts Committee {PNAC} puts the growth in the first year of the Imran Khan government @ 1.9%. In the second year, i.e. FY20 the GDP growth has been put at -0.38%. With the COVID-19 crisis far from over, to expect Pakistan's economy to grow by 2.1%! in <FY21> is nothing but delusional. Chances are therefore that the FBR taxes will hover around the PKR ^4 trillion mark, `which means that over the last four years, the tax collections by FBR have been virtually static even as expenditures have been ~increasing. *Naturally, this means that the fiscal deficits are going quite haywire & In FY19 the fiscal deficit was 8.9% of GDP (the Pakistanis told IMF it will be #7.2%), / in FY20 it is expected to be @ around 9.4% (against a budgeted 7%) and in FY21 there are some economists who believe that it will be in double digits though the budget documents put it @ 7%.
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