Pakistan Finance Minister Miftah Ismail on Friday unveiled the budget for the 2022/23 fiscal year starting July, aiming for economic growth of 5 per cent amid pressure to control the fiscal deficit and secure International Monetary Fund bailout money.* Targets 5 per cent economic growth for 2022/23 fiscal year, starting July, after an estimated annual growth of 5.
* Fiscal deficit target set at 4.9 per cent of GDP for 2022/23 vs revised target of 7.1 per cent in 2021/22* Conflict between Russia and Ukraine poses a risk to Pakistan's economy* Monetary tightening and fiscal consolidation may slow down economic growth* Development expenditure set at 800 billion rupees for 2022/23* Defence expenditure set at 1.52 trillion rupees for 2022/23 vs 1.48 trillion rupees in 2021/22* Pakistan cuts health budget to 19.03 bln rupees for 2022/23 vs 154.
* Consumer-price-index based inflation rose in May to 13.8 per cent year-on-year, the highest in two-and-half years.INTERNATIONAL TRADE* Import target set at $70 billion for 2022/23* Budget forecasts remittances of $33.
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