Govt Efforts Reduce Budget Deficit To 4.6 % Of GDP

ISLAMABAD,(UrduPoint / Pakistan Point News - 5th Augst,2016) : The present government efforts have resulted in reduction of budget deficit which has come down from 8.8 per cent of Gross Domestic Product (GDP) in May 2013 to 5.3 percent of GDP during 2014-15. Furthermore it has come down to 4.6 per cent of GDP in financial year 2015-16.

Finance Division sources on Friday said the government had made all efforts to reduce budget deficit which included introduction of austerity measures, complete ban on purchase of vehicles and ban on creation of new posts. The sources said other steps included increase in tax revenue collection through removal of tax exemptions, broadened tax base and efficient administrative measures. The sources said there was no increase in percentage of budget deficit.