More of the same, or worse? What economists expect from upcoming budget

Last year we thought the government was going to announce ‘one of the toughest budgets yet’, and yet, here we are once again, at the same point, but worse. The coalition government is set to announce the federal budget for the fiscal year 2024 on June 9. Since the beginning of the year, each month seems to compete with the last to climb the inflation ladder, reaching a record 38 per cent in May. In the midst of political chaos, the watchful eye of the International Monetary Fund (IMF) (which has requested to review the budget), Pakistan’s debt servicing obligations, and an election year, Dawn.com asked economic experts what they expect from the upcoming budget. Dr Aqdas Afzal This budget will be presented against the backdrop of the most challenging political and economic environment this country has witnessed since 1971. Where Pakistani people are facing the highest-ever inflation at almost 38pc, poverty and unemployment have been steadily increasing.