MM News

ISLAMABAD: The budget deficit has reached Rs3468, while the trade deficit amounted to $49.5 billion during the fiscal year of 2021-22, Finance Ministry said in its financial report for the FY21-22.

The report issued by the Finance Ministry revealed that the price range deficit for the 12 months 2021-22 was Rs3468 billion. The country’s exports had been $32.5 billion, whereas the imports had been $72 billion, the report stated.

The report said that a total of $31.2 billion were received in remittances in the fiscal year 2021-22. International investment in the country amounted to $1.8 billion, it added.

The Finance Ministry informed that the overseas reserves within the nation, as of July 25, had been $14.three billion, whereas the greenback change charge was Rs229.88. The greenback charge on 23 July 2021 was 162.33, it added.

In keeping with the report taxed revenue within the fiscal 12 months 2021-22 amounted to Rs6126 billion whereas a complete of Rs1124 billion was collected as non-taxed revenue.

The budget deficit for the year 2021-22 was Rs3468 billion.

In February 2022, the Finance ministry released details of the federal budget, highlighting that the deficit increased by Rs459 billion in six months of the fiscal year 2021-22 despite an increase in tax collection.

According to details shared by the ministry, the budget deficit had risen to Rs1852 billion during the six months of the fiscal year 2021-22.