June 11, 2019 / 1:19 PM / a month ago

Pakistan sees 2020 budget deficit at 7.1% of GDP

Muhammad Hammad Azhar, Minister of State for Revenue is seen at his office in Islamabad, Pakistan November 14, 2018. Picture taken November 14, 2018. REUTERS/Faisal Mahmood

ISLAMABAD (Reuters) - Pakistan is forecasting a budget deficit equivalent to 7.1 percent of gross domestic product in its budget for the fiscal year to June 2020, Revenue Minister Hammad Azhar announced in parliament on Tuesday.

He set a planned spending target of 7.02 trillion Pakistani rupees ($46.49 billion), compared with targeted tax revenues of 5.55 trillion rupees.

($1 = 151.0100 Pakistani rupees)

Reporting by Saad Sayeed and Asif Shahzad: Writing by James MacKenzie

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