The Pakistani Budget for 2023-24: A Critical Analysis.

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The Pakistani Budget for 2023-24: A Critical Analysis.
The Pakistani Budget for 2023-24: A Critical Analysis.





Pakistani Budget 2023-24: A Mixed Bag:


The Pakistani government has announced its budget for the fiscal year 2023-24. The budget is a mixed bag, with some positive and some negative aspects.


On the positive side, the budget includes a number of measures aimed at stimulating economic growth. These include an increase in the Public Sector Development Programme (PSDP), which is the government's investment budget, and a reduction in taxes on businesses. The budget also includes measures to support the poor, such as an increase in the minimum wage and an expansion of the Benazir Income Support Programme (BISP).


However, the budget also includes some negative aspects. These include an increase in the budget deficit, which is the difference between government spending and revenue. The budget deficit is expected to reach 6.3% of GDP in the fiscal year 2023-24. This is a high level of deficit, and it could lead to inflation and a depreciation of the Pakistani rupee.


Another negative aspect of the budget is the increase in the debt burden. The government's total debt is expected to reach 86% of GDP in the fiscal year 2023-24. This is a high level of debt, and it could make it difficult for the government to finance its expenditures in the future.


Overall, the Pakistani budget for the fiscal year 2023-24 is a mixed bag. There are some positive aspects, such as the measures to stimulate economic growth and support the poor. However, there are also some negative aspects, such as the increase in the budget deficit and debt burden. It remains to be seen whether the government will be able to successfully implement the budget and achieve its economic goals.


Here are some of the key points of the Pakistani budget for the fiscal year 2023-24:


The budget deficit is expected to reach 6.3% of GDP.

The government's total debt is expected to reach 86% of GDP.

The PSDP is being increased by 40%.

Taxes on businesses are being reduced.

The minimum wage is being increased.

The BISP is being expanded.

It remains to be seen whether the government will be able to successfully implement the budget and achieve its economic goals.

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