| GEO Business|
| Dismal outlook in first quarterly of current FY|
| Updated at: 1650 PST, Saturday, September 26, 2009|
ISLAMABAD: The fiscal deficit outgrew the appointed target due to decrease in revenues receipts, the Finance Ministry said Saturday.
Talking to Geo News, the sources privy to the ministry said the fiscal deficit is not expected to remain perched at 1.3 percent during the first quarterly of the current year.
According to sources, the government employees were given October salaries in September, which spurred the fiscal deficit, adding the deficit may reach 2.1 percent in the first quarterly of the current year.
During the same period, the government fixed the target of borrowings from banks at Rs195 billion and now it also crossed.
The governmentís bank borrowings may exceed Rs300 billion by September 30.