Govt’s 3-year plan sets economic growth target of 5.5 per cent by 2027
Special Correspondent
ISLAMABAD: The federal government has announced a three-year-long economic plan (2024-2027) under which it says it will achieve the economic growth target of 5.5 per cent, while during the current financial year (FY) the growth is expected to remain at 3.6 per cent.
Under the plan, the government intends to reduce inflation and financial deficit, while the tax collection target of Rs12,970 billion has been set for the ongoing FY, which it plans to increase to Rs18,47 billion in 2027.
Under the plan, it has been estimated that the federal expenditures will increase to Rs21,218 billion by 2027, while the country’s loans are expected to jump by over Rs8 billion this financial year; hence taking the total amount of loans the country has to repay to Rs79,000 billion.
A sum of Rs9,775 billion has been earmarked in this FY’s budget for payments to be made under the head of interest.
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