Budget deficit stands at 3468 billion rupees in FY21-22: Ministry of Finance

ISLAMABAD: The budget deficit reached 3,468 rupees, while the trade deficit stood at $49.5 billion in the financial year 2021-22, the Ministry of Finance said in its financial report for the exercise 21-22.

The report released by the Ministry of Finance revealed that the price band shortfall for the 12 months 2021-22 was Rs 3.468 trillion. The country’s exports stood at $32.5 billion, while imports stood at $72 billion, the report said.

The report indicates that a total of $31.2 billion was received in remittances during the 2021-22 financial year. International investments in the country amounted to $1.8 billion, he added.

The Ministry of Finance said that the country’s foreign reserves as of July 25 stood at $14.3 billion, while the greenback’s exchange rate was Rs. 229.88. The price of the greenback on July 23, 2021 was 162.33, he added.

According to the report, taxed income in the financial year 2021-2022 amounted to Rs 6.126 trillion, while a total of Rs. 1.124 trillion was collected as untaxed revenue.

The budget deficit for the year 2021-22 was 3468 billion rupees.

In February 2022, the Ministry of Finance released details of the federal budget, highlighting that the deficit had increased by Rs 459 billion in the six months of the 2021-22 financial year despite an increase in tax collection.

According to details shared by the ministry, the budget deficit stood at Rs1852 billion in the six months of the fiscal year 2021-22.

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