Pakistan is set to unveil a trimmed federal budget today, projecting 17.6 trillion rupees ($62.45 billion) in total outlays — a 6.7% decrease from the previous year — while increasing defence spending by about 20%, according to media reports and analysts.
The budget comes in the wake of last month’s conflict with India, placing new demands on Pakistan’s military expenditure. Defence allocations in 2024–25 were 2.1 trillion rupees, and are expected to increase significantly, alongside 563 billion rupees already marked for military pensions.
Meanwhile, development spending is likely to face cuts, with the government targeting a 4.8% fiscal deficit, improved from the 5.9% goal this fiscal year. The country’s economic growth for 2025–26 is projected at 4.2%, up from 2.7% this year, but still below the regional average of 6.0%, per the Asian Development Bank.
The government will also have to navigate fiscal constraints under its $7 billion IMF programme, while facing uncertainty from new U.S. tariffs affecting key exports.
Key reform priorities include expanding the tax base, enforcing agriculture income tax, and cutting subsidies. With just 1.3% of Pakistan’s population paying income tax in 2024, the IMF has pressed for inclusion of agriculture, real estate, and retail sectors.
Finance Minister Muhammad Aurangzeb stated the government would avoid “boom and bust” cycles, aiming to protect recent economic stability. However, analysts like Ahmad Mobeen of S&P Global remain cautious, predicting the revenue targets will fall short without deeper structural reforms.
Uzbekistan and Turkmenistan are stepping up efforts to expand cooperation across key sectors, with leaders from both countries meeting on the sidelines of the Tashkent International Investment Forum.
Pakistan is increasing its defense budget by nearly 20%.
A 15-year-old student fatally stabbed a school assistant during a bag check outside a middle school in Nogent, northeastern France, on Tuesday, in what officials are calling a brutal sign of escalating youth violence.
Russia has launched waves of drone and missile attacks on Ukrainian cities early Tuesday, killing three people and wounding at least thirteen others, Ukrainian officials reported.
A string of bomb and car bomb attacks blamed on FARC dissidents left seven people dead and dozens injured Tuesday in Colombia’s Cauca and Valle del Cauca regions.
Uzbekistan and Turkmenistan are stepping up efforts to expand cooperation across key sectors, with leaders from both countries meeting on the sidelines of the Tashkent International Investment Forum.
Pakistan is increasing its defense budget by nearly 20%.
A 15-year-old student fatally stabbed a school assistant during a bag check outside a middle school in Nogent, northeastern France, on Tuesday, in what officials are calling a brutal sign of escalating youth violence.
A string of bomb and car bomb attacks blamed on FARC dissidents left seven people dead and dozens injured Tuesday in Colombia’s Cauca and Valle del Cauca regions.
At least seven people have died and several schoolchildren are missing after heavy rain and snow triggered flooding in South Africa’s Eastern Cape and southern regions, officials said Tuesday.
Start your day informed with AnewZ Morning Brief: here are the top news stories for June 8th, covering the latest developments you need to know.
Presidential candidate Miguel Uribe Turbay is in critical condition after being shot three times — including twice in the head — during a campaign event in Bogotá.
A 30-year-old woman was shot by police in Munich on Saturday evening after stabbing two people at Theresienwiese, a central park best known for hosting Oktoberfest.
Mexican President Claudia Sheinbaum has condemned U.S. immigration raids and National Guard deployment in Los Angeles, calling for reforms instead of enforcement.
Israel’s military says it has identified the body of top Hamas commander Mohammed Sinwar beneath a hospital in southern Gaza.
French President Emmanuel Macron has pledged to ban access to social media for children under 15 within months if the European Union does not act on the issue, citing growing concerns about youth safety and online influence.
The World Bank has lowered its global growth forecast for 2025 to 2.3%, down 0.4 percentage points from earlier estimates, warning that escalating trade tensions and tariff hikes are clouding the global economic outlook.
The next phase of Russia-U.S. consultations on resolving diplomatic tensions will take place in Moscow “in the near future,” Russia’s Ambassador to Washington, Alexander Darchiev, confirmed in his first interview since assuming the post in March.
Pakistan is increasing its defense budget by nearly 20%.
A 15-year-old student fatally stabbed a school assistant during a bag check outside a middle school in Nogent, northeastern France, on Tuesday, in what officials are calling a brutal sign of escalating youth violence.
Uzbekistan and Turkmenistan are stepping up efforts to expand cooperation across key sectors, with leaders from both countries meeting on the sidelines of the Tashkent International Investment Forum.
Pakistan is increasing its defense budget by nearly 20%.
A 15-year-old student fatally stabbed a school assistant during a bag check outside a middle school in Nogent, northeastern France, on Tuesday, in what officials are calling a brutal sign of escalating youth violence.
A string of bomb and car bomb attacks blamed on FARC dissidents left seven people dead and dozens injured Tuesday in Colombia’s Cauca and Valle del Cauca regions.
At least seven people have died and several schoolchildren are missing after heavy rain and snow triggered flooding in South Africa’s Eastern Cape and southern regions, officials said Tuesday.
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