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Ishaq Dar vows to reduce fiscal deficit to 4pc of GDP

ISLAMABAD: Federal Finance Minister Ishaq Dar blamed previous governments for slow economic progress of the country, ARY News reported.

Addressing the workshop on strengthening sub-national fiscal management at Islamabad on Thursday, Ishaq Dar said discipline is key to rapid economic progress but due to bad policies of previous governments Pakistan’s economy is facing hurdles in rapid progress in the shape of inflation, high unemployment and high debt burden.

He said the current government is fully aware of the fact that fiscal consolidation and prudent debt management are vitally important for a better economic future and for this we have articulated a Medium-Term Budget Strategy.

Ishaq Dar vowed to reduce fiscal deficit to around 4 per cent of Gross Domestic Product (GDP) in the next three years, which will result in reduction of our public debts to less than 60 percent of GDP.

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