Pakistan’s Macroeconomic Targets – Budget 2022 -2023

1. Budget outlay of PKR 9.5Trn has been set for FY23.
2.  The govt. has set a target of 5% GDP growth for FY23 while increasing the overall
   GDP size from PKR 67Trn to PKR 78.3Trn.
3.  Govt. expects inflation to average 11.5% next year compared to 11.7% in the ongoing fiscal year.
4.  FBR tax collection target has been set at 9.2% of GDP (PKR 7.0Trn, ↑20% against
   FY22 target) as compared to 8.6% in the current fiscal year. Direct taxes are budgeted at PKR 2.6Trn while indirect taxes are budgeted at PKR 4.4Trn.
5.  Fiscal deficit target is set at 4.9% of GDP (PKR 3.8Trn) as compared to 6.3% in FY22
   (PKR 3.4Trn).
6.  Govt. is targeting a primary surplus of 0.2% in FY23 against a deficit of 2.4% in FY22.
7.  The govt. is expecting CAD at 2.2% of GDP (~USD 9Bn) in FY23 as compared to 4.1%
   (~USD 16Bn) of GDP in FY22.
8.  Imports are expected to come down from USD 75Bn in FY22 to USD 70Bn in FY23
   while exports are expected to increase by ~12% to USD 35Bn.
9.  Remittances are projected at USD 33.2Bn as compared to USD 31.1Bn in FY22.

PSDP -subsidy

Salary Taxes