ISLAMABAD: The International Monetary Fund (IMF) has projected a decline in the government gross debt for Pakistan from 77.8 percent of Gross Domestic Product (GDP) in 2022 to 71.1 percent in 2023.

However, the fiscal year 2022-23 projections for Pakistan are based on information available as of the end of August 2022 and do not include the impact of the recent floods.

According to the IMF report, 'Fiscal Monitor, Helping People Bounce Back', the net debt for Pakistan is projected to decline from 71.5 per cent of the GDP in 2022 to 66.1 per cent in 2023.

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The government revenue is projected at 12.4 per cent of GDP for 2023 and 12.8 per cent for 2024 against 12.1 per cent during the same period of 2022. The Fund has projected the government’s primary balance at 0.2 per cent for 2023 against -3 per cent in 2022. Further, the government’s overall balance is projected at -4.8 per cent for 2023 against -7.8 per cent in 2022.

Copyright Business Recorder, 2022