The Ministry of Finance has prepared a plan to reduce the financial deficit and also mentioned the major threats to the country’s economy.
The Ministry of Finance has released a report on the financial risks facing the country’s economy, in which there is a fear of further inflation due to the increase in energy prices.
According to the report, macroeconomic shocks, debt and natural calamities are major threats to the country’s economy. The essential plan is to increase the tax net and reduce subsidies to reduce the fiscal deficit.
The report of the Ministry of Finance further said that there are loans of more than 59 thousand billion, next to which the government guarantees of 3 thousand 460 billion are unsustainable.
According to the report, there is a fear of further increase in inflation due to the increase in energy prices, one of the main reasons for inflation is the depreciation of the rupee and the cost of food.
The report of the Ministry of Finance also said that the reduction in inflation is subject to the decline in commodity prices and the stability of the rupee.
According to the report, the pace of the country’s economy is slow, but gradual improvement is expected, the economic growth in 2024 is 3.5 percent, which will increase to 5 percent in 2025.
According to the report of the Ministry of Finance, GDP growth will reach 5.5 percent by 2026.
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