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The federal government has issued a three-year economic plan and set economic targets under the Medium-Term Budget Strategy Paper.
According to the Ministry of Finance, the aim is to increase the economic growth rate to 5.5% by the fiscal year 2027, while bringing the average inflation down to 7% over the next three years.
The statement outlines that by the fiscal year 2027, the country’s exports are targeted to reach $37.95 billion, and imports are expected to be $67.08 billion.
Under the plan, the Federal Board of Revenue (FBR) aims to increase tax collections to PKR 18,047 billion and non-tax revenue to PKR 4,093 billion over the next three years.
By the fiscal year 2027, total federal expenditures are projected to be PKR 21,218 billion, and the provincial surplus budget is estimated to be PKR 1,800 billion.
The economic plan sets the overall fiscal deficit target at 4.9% by 2027, with the petroleum levy target at PKR 1,438 billion.
Interest payments are projected to be PKR 10,238 billion, and defense expenditures are estimated to be PKR 2,578 billion by the fiscal year 2027.
Additionally, grants are targeted to be PKR 2,197 billion, and subsidies are set at PKR 1,569 billion by the fiscal year 2027. Over the next three years, pension expenses are estimated to be PKR 1,341 billion.
This plan includes significant measures and strategies for the country’s economic growth and stability.
