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Friday, 7 December 2018

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Finance Ministry asks other ministries to continue spending their respective budget provided

Finance Ministry asks other ministries to continue spending their respective budget provided




The Finance Ministry has asked other ministries and departments to continue to spend whatever they have been given according to the budget. Meanwhile, the finance ministry has been preparing for an interim budget for the financial year 2020.

This shows that it is feeling comfortable with the government's income and expenditure, whereas in October the fiscal deficit was higher than the budget estimate. The government has kept the fiscal deficit target of 3.3 percent of GDP for 2019. Independent experts say that the government will not be able to achieve the goal, but the Center has recently claimed that it will achieve this target.

However, seeing the way the government is spending money, it seems that it is has no problem with the fiscal deficit. Whenever governments are in difficulties with the fiscal deficit target, they first cut the capital spends.

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