Pakistan, Aug. 5 -- Pakistan has successfully reduced its budget deficit to 5.4% of GDP for the fiscal year 2024-25, down from 6.8% the previous year. This improvement reflects the government's efforts to manage spending and boost revenue collection during a challenging economic period.

According to the Finance Ministry's fiscal operations report, the total budget deficit stood at Rs6,168 billion. The government generated Rs17,997 billion in total income, while expenditures amounted to Rs24,165 billion for the year.

Tax revenues played a major role in funding government operations. The Federal Board of Revenue collected Rs11,744 billion, while provinces contributed Rs978 billion. Overall, tax revenues totaled Rs12,722 billion. Non-tax i...