Debt burden on the economy increases
ISLAMABAD: The Finance Ministry has said that the debt burden on the economy has increased in the last one year.
According to the details, the spokesperson of the Ministry of Finance said that the debt burden on the economy was 86.1% in June 2019, which decreased to 84% in December 2019.
According to the Ministry of Finance, the economy has been affected by the Corona epidemic, which caused the debt burden on the economy to be 87.2% in June 2020, with spending cuts in February 2020.
The spokesman said that the current account deficit had been overcome before the Corona epidemic but the cause of the epidemic was unknown.
In June, the financial adviser, presenting the Economic Survey Report 20-2019, said that for the first time in the country’s history, revenues were higher and expenditures were lower, the current account deficit of 20 billion was reduced to 3 billion, and past debt. 5,000 billion loans were repaid.
The financial adviser said that the tax target could not be achieved due to the Corona epidemic but the volume improved.