Pakistan unveils 2023/24 budget, targets 3.5% growth

Pakistan's Finance Minister Ishaq Dar on Friday unveiled the budget for the 2023/24 fiscal year, targeting economic growth of 3.5% as the crisis-riven country looks to persuade the International Monetary Fund to release more bailout money.

Following are some highlights from the 2023/24 budget. GDP/DEFICIT

*Targets 3.5% economic growth for 2023/24 *Fiscal deficit target set at 6.54% of GDP for 2023/24

*Targets primary surplus at 0.4% of GDP in 2023/24 INFLATION

*Targets inflation at 21% in 2023/24 EXPENDITURE

*Total spending target of 14.46 trillion rupees set for 2023/24 *Defence expenditure estimated at 1.8 trillion rupees for 2023/24

REVENUE *Targets total tax revenue of 9.2 trillion rupees for 2023/24

*Targets total non-tax revenue of 3 trillion rupees for 2023/24 INTERNATIONAL TRADE

*Targets exports of $30 billion in 2023/24 AUSTERITY MEASURES

*Estimates debt servicing funds of 7.3 trillion rupees for 2023/24 OTHER INITIATIVES

*No new tax on industrial sector (Compiled by Sakshi Dayal Editing by Mark Potter and Mark Heinrich)