Pakistan’s 2025-26 federal budget cuts overall spending by 7% but raises defence expenditure by 20% amid recent conflict with India, aiming to balance economic growth with increased military costs.
Pakistan unveiled its fiscal year 2025-26 budget, reducing total spending to 17.57 trillion rupees ($62 billion) while sharply increasing defence spending by 20% to 2.55 trillion rupees ($9 billion). The budget reflects the government’s response to last month’s deadly clashes with India, focusing on bolstering defence amid efforts to stimulate economic growth. The fiscal deficit is projected to improve to 3.9%, with inflation at 7.5% and growth forecasted at 4.2%. Pakistan faces challenges including IMF conditions and new U.S. trade tariffs, while seeking to maintain stability after recent military tensions.
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Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 24th July, covering the latest developments you need to know.
Russian authorities said 11 people, including four children, had been killed by Ukraine in an overnight attack on a holiday camp, accusing Kyiv on Saturday of deliberately targeting civilians.
The U.S. military said it completed a fresh wave of strikes on Iran late on Thursday, marking the 13th consecutive night of American attacks. The latest operation lasted more than two hours, according to U.S. Central Command.
Spain has declared a national emergency and evacuated more than 10,000 people after uncontrolled wildfires reached the outskirts of Madrid. Emergency crews have rescued residents as multiple blazes continue to spread across the region.
Six candidates vying to become the next United Nations Secretary-General have called for restoring the organisation's credibility, strengthening multilateralism and reforming the UN, during the first public town hall debate ahead of a decisive Security Council vote next week.
Brazil has denied visa requests for two Trump administration officials who planned to travel to the country to cast doubt on the integrity of its electoral system, two Brazilian officials with knowledge of the matter told Reuters.
Russian authorities said 11 people, including four children, had been killed by Ukraine in an overnight attack on a holiday camp, accusing Kyiv on Saturday of deliberately targeting civilians.
U.S. President Donald Trump says Israeli Prime Minister Benjamin Netanyahu will visit Washington next week as tensions continue to rise across the Middle East.
Italian Defence Minister Guido Crosetto recently offered the dismissed Ukraine’s Defence Minister, Mykhailo Federov an adviser role in Italy.
Romania said on Saturday that it had shot down a second drone after it entered the country's airspace in as many days.
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