ISLAMABAD – Government was unable to meet its target of reduced fiscal deficit in financial year 2015-16 by 0.4 percent, according to the statistics studied on Thursday.
According to the details, fiscal deficit in 2015-16 was 4.6 percent of Gross Domestic Product whereas the target was 4.3 percent.
The government ended the financial year with deficit worth Rs 1,349 million.
Around Rs 157 billion were spent on defense sector, Pakistan’s highest paid sector for years. Funds utilized for development in public sector were Rs 593 billion whereas the target was Rs 700 billion.