ISLAMABAD – Coronavirus Expenses Not Included In Fiscal Deficit Target. Advisor to Prime Minister on Finance, Hafeez Shaikh has said that government expenses to combat the coronavirus outbreak will not be in the fiscal deficit target.
According to details, Sheikh was talking to media persons in Islamabad on Monday. He said that IMF has confirmed not to include coronavirus spendings into the country’s fiscal deficit. Meanwhile, PM has directed the economic team to devise a strategy to counter the impact of coronavirus on Pakistan’s economy.
On Monday, the Pakistan Stock Exchange (PSX) witnessed one of the worst trading sessions in its history. The benchmark KSE-100 Index dropped over 2,400 points during the day amid panic selling. The latest drop comes after more coronavirus cases emerged in Sindh, including 71 from Sukkur. Coronavirus Expenses Not Included In Fiscal Deficit Target.
Global stocks too slammed on Monday. While the dollar battered after emergency rate cuts in the United States and New Zealand. Meanwhile, a raft of steps by policymakers worldwide failed to stem the rout in markets spooked by the broadening fallout of the coronavirus.