It said that Pakistan''s budget deficit that in pre-COVID-19 situation had been projected at 7.3 per cent of gross domestic product (GDP), may increase to 9.2 per cent. For fiscal year 2020-21, the IMF has projected 6.5 per cent budget deficit, higher by 1 per cent compared with the pre-COVID-19 analysis of the IMF staff. The budget deficit is expected to be the highest in Pakistan’s history after the Pakistan Tehreek-e-Insaf (PTI) government booked the highest deficit in 28 years in its first year in power. The government exceeded its budget deficit target by 82 per cent, which stood at Rs 3.444 trillion in previous fiscal year 2018-19. The IMF board is expected to approve USD 1.4 billion in emergency relief for Pakistan on Thursday.

Source: The North Africa Journal April 16, 2020 11:15 UTC