ISLAMABAD: Opposition leader in National Assembly (NA) Shahbaz Sharif has said exceeding the budget deficit by over 10 percent of GDP growth rate in the first time of the history of the country is more embarrassing than corona virus.
He said this in a statement issued here Saturday. He held that historical budget deficit belies the government claims.
The claim made by the government about 7.1 percent budget deficit regarding previous year proved incorrect, he added. The truth has come to surface today that the real deficit is 9.1 percent of GDP.
He remarked the government has claimed that budget deficit will be 9.1 percent this year but the independent economic experts have said that the budget deficit will surpass 10 percent of GDP.
He underlined it has proved historical budget deficit had already eroded our national economy ahead of outbreak of corona virus. The statistics testify that budget deficit had hit the record highest level ahead of spread of corona virus.
He remarked the incumbent government has miserably failed to contain circular debt beside budget deficit.
As compared to PML-N government the circular debt has reached the record highest level with three fold increase during the present government, he remarked. Government should realize the national trust and not to keep the future of nation mortgage, he added.
Government should make investment in education and health sectors rather than rendering the youths hostage to global economic system.
The budget bears witness that PTI led government is not only inept but is lying to cover up its ineptness, he held.