Unveiling the federal budget for FY22, Finance Minister Shaukat Tarin kicked off the national assembly session by recalling the state of the economy that the Pakistan Tehreek-e-Insaf (PTI) government had received when it came into power.
He stated that the current account deficit was at a historic high of $20 billion however the government through its prudent policies managed to drag the economy out of trouble.
He stated that the budget deficit was at a high of 6.6% and the foreign exchange reserves were at a critical stage of $10 billion at the end of PML-N’s tenure. Nonetheless, the situation has now improved.
He stated that the responsibility to fix the economy fell to the PTI government as the previous government had hampered the economy by taking loans and artificially was fixing the dollar at Rs104 for 5 years.