Massive restructuring of budget in the offing: IMF
Sources told Dawn on Wednesday that IMF authorities had already indicated their willingness to raise the fiscal deficit target by 0.7 per cent from the originally budgeted four per cent for the current year. – File Photo
ISLAMABAD: With fiscal deficit rising, a review mission of the International Monetary Fund (IMF) will be visiting here next week to assess the country’s financial requirements and discuss with authorities the need for a mid-year budget restructuring.
Sources told Dawn on Wednesday that IMF authorities had already indicated their willingness to raise the fiscal deficit target by 0.7 per cent from the originally budgeted four per cent for the current year.
The sources said an exchange of data with the IMF in Washington in August suggested that the fiscal deficit might go up beyond six per cent because of a higher than targeted expenditure projections by the provinces and lower revenue collections at the federal level.
Sources told Dawn on Wednesday that IMF authorities had already indicated their willingness to raise the fiscal deficit target by 0.7 per cent from the originally budgeted four per cent for the current year.
The sources said an exchange of data with the IMF in Washington in August suggested that the fiscal deficit might go up beyond six per cent because of a higher than targeted expenditure projections by the provinces and lower revenue collections at the federal level.