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Budget deficit is expected to exceed the target of 7.5 per cent of GDP and may go to 9.4pc of GDP owing to disruption in economic activity and increasing expenditure on public health and social safety net programs lessening the impact of Covid-19.
According to the Economic Survey 2019-20, achieving revenue targets of both tax and non-tax segments would be challenging due to disruption in economic activity. The full impact of Covid-19 on the Federal Bureau of Revenue collection is estimated at Rs899 billion for FY20.
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