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.
Pakistan will begin its first freight train service to Russia from Lahore on June 22. The route is part of the INSTC and aims to connect Pakistan's rail network with Central Asia, establishing a new trade corridor via Iran, Turkmenistan, and Kazakhstan.
Pakistan is increasing its defense budget by nearly 20%.
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.
Azerbaijan’s Foreign Minister Jeyhun Bayramov and Pakistan’s Deputy Prime Minister and Foreign Minister Muhammad Ishaq Dar held a phone call to discuss strengthening bilateral and multilateral cooperation.
Azerbaijani President Ilham Aliyev and Pakistani Prime Minister Shehbaz Sharif exchanged Eid al-Adha greetings in a phone call that also highlighted deepening ties and regional cooperation.
Chinese President Xi Jinping will visit Kazakhstan next week to attend a key Central Asia-China summit, the Kazakh presidency announced on Wednesday.
A historic May heat wave pushed Greenland’s ice melt to 17 times its average rate and sent Iceland’s temperatures soaring to record-breaking highs, raising urgent alarms about Arctic climate vulnerability.
Azerbaijani Prime Minister Ali Asadov announced that joint efforts are ongoing with Georgia, Romania, and Hungary on the development of the “Green Energy Corridor” project, which will run across the Black Sea seabed to Europe.
The Iranian Foreign Minister Abbas Araghchi arrived in Norway on Wednesday to take part in the 22nd Oslo Forum, while the UN nuclear watchdog will discuss Iran and days ahead of his upcoming meeting with the U.S. envoy Steve Witkoff in Oman.
Prime Minister Petteri Orpo has announced Finland's ambition to host a European AI gigafactory. The move aims to boost national growth by building on the success of the LUMI supercomputer, with telecommunications giant Nokia poised to lead the project's business consortium.
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.
Kazakhstan and the UK are strengthening defense ties with a new Military Cooperation Plan, focusing on peacekeeping and military education.
The Iranian Foreign Minister Abbas Araghchi arrived in Norway on Wednesday to take part in the 22nd Oslo Forum, while the UN nuclear watchdog will discuss Iran and days ahead of his upcoming meeting with the U.S. envoy Steve Witkoff in Oman.
In response to mounting backlash over delayed payments and a deepening price war, major Chinese automakers including BYD, Chery, Geely, SAIC, BAIC, Xpeng, and Xiaomi have pledged to pay suppliers within 60 days, aligning with new government rules that came into effect on June 1.
On Wednesday, British Finance Minister Rachel Reeves outlined a strategic spending plan focused on health, defence, and infrastructure in an effort to stimulate economic growth and restore public confidence in the Labour government.
Russia has expressed willingness to help ease tensions between the U.S. and Iran over Tehran's nuclear programme by offering to take Iran's highly enriched uranium (HEU) and convert it into fuel for civilian reactors.
UK Finance Minister Rachel Reeves unveiled a major spending review on Wednesday, focusing on health, defence, and infrastructure to drive economic growth and restore confidence in the Labour government’s vision.
Chinese President Xi Jinping will visit Kazakhstan next week to attend a key Central Asia-China summit, the Kazakh presidency announced on Wednesday.
A historic May heat wave pushed Greenland’s ice melt to 17 times its average rate and sent Iceland’s temperatures soaring to record-breaking highs, raising urgent alarms about Arctic climate vulnerability.
Azerbaijani Prime Minister Ali Asadov announced that joint efforts are ongoing with Georgia, Romania, and Hungary on the development of the “Green Energy Corridor” project, which will run across the Black Sea seabed to Europe.
The Iranian Foreign Minister Abbas Araghchi arrived in Norway on Wednesday to take part in the 22nd Oslo Forum, while the UN nuclear watchdog will discuss Iran and days ahead of his upcoming meeting with the U.S. envoy Steve Witkoff in Oman.
Prime Minister Petteri Orpo has announced Finland's ambition to host a European AI gigafactory. The move aims to boost national growth by building on the success of the LUMI supercomputer, with telecommunications giant Nokia poised to lead the project's business consortium.
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