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fiscal deficit

State Bank expects 5-6 pct GDP growth in current fiscal year

KARACHI: The State Bank of Pakistan on Saturday released its second quarterly report for the current fiscal year 2016-2017 and stated that the overall economic environment continues to remain conducive for growth. The report titled 'The State of Pakistan's Economy's gives an economic overview of the economy, indicating factors responsible for the positive outlook including the stance on monetary policy, increase in development spending, substantial growth in private sector credit especially for fixed investment, and…

Fiscal deficit rises by 2.4 pct in six months

ISLAMABAD: The volume of fiscal deficit has reached Rs. 799 billion with an increase of 2.4 percent in the first six months of FY16-17, ARY News reported. According to statistics, the volume of fiscal deficit was 1.7 percent of the Gross National Product (GNP) of the previous fiscal year. As part of the budget 2016-17, the government has set a target of containing fiscal deficit below 3.8pc of GDP, but the actual deficit has moved past 2.4pc of GDP (more than 63pc of the limit), according to details of fiscal…