Fiscal surplus shrinks 40pc as revenues decline

• Primary surplus drops to 2.1pc of GDP from 2.8pc last year • Revenue falls despite higher tax collections; interest payments jump 23pc • Provincial cash surpluses shrink 23pc; Balochistan posts deficit ISLAMABAD: Pakistan’s fiscal buffers weakened in the first quarter of the current fiscal year despite expenditure controls and subsidy cuts, as revenue-to-GDP ratios declined and provincial cash surpluses shrank. The overall fiscal surplus fell to 0.9 per cent of GDP in July-September this year

Source: Dawn