[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-108201-en":3,"doc-seo-108201-105":30,"detail-sidebar-cat-0-en-105":91},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":21,"is_downloadable":21,"audit_status":21,"page_count":22,"language":23,"language_code":24,"site_id":25,"html_lang":24,"table_of_contents":26,"faqs":27,"seo_title":13,"seo_description":14,"update_tm":28,"read_time":29},108201,549758146520,"Patrick","https://ap-avatar.wpscdn.com/avatar/80002397d8c0411e94?_k=1775819394049821470",8,"Research & Report","Pakistan Federal Public Expenditure Review - Executive Summary - 2023","Pakistan’s Federal Public Expenditure Review 2023 assesses why persistent recurrent fiscal deficits endanger macroeconomic stability and explores how federal expenditures can be rationalized to generate fiscal savings and raise the efficiency of development spending. It examines non-budgetary debt-stock drivers and their management options, evaluates the fiscal impact of federal SOEs and ways to minimize it, and identifies avenues to enhance federal revenue collection. The review culminates in policy recommendations and measures for federal fiscal savings.","Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized  \nPAKISTAN FEDERAL PUBLIC EXPENDITURE REVIEW  \nExecutive Summary  \n2023  \nTABLE OF CONTENTS  \nTABLE OF CONTENTS ..........................................................................................III  \nPREFACE ............................................................................................................ V  \nEXECUTIVE SUMMARY ........................................................................................ 1  \n1. Why are recurrent fiscal deficits harmful to the economy? Why are Pakistan’s fiscal deficits so persistent (Chapter 1)? .................................................................................................. 3  \n2. How can federal fiscal expenditures be rationalized for fiscal savings and the efficiency of development spending be improved (Chapter 2)? .............................................................. 6  \n3. What are the non-budgetary drivers of the debt stock and how can they be managed (Chapter 3)? ....................................................................................................................... 8  \n4. What is the impact of federal SOEs on the finances of the Federal Government and how can they be minimized (Chapter 4)? ................................................................................. 10  \n5. What are the avenues through which fiscal revenue collection can be enhanced (Chapter  \n5)? ................................................................................................................................... 12  \n6. Policy recommendations and federal fiscal savings ....................................................... 14  \nREFERENCES...................................................................................................... 20  \nList of Figures and Tables  \nFIGURES  \nFigure ES.1: Pakistan: Government Budget Balances ....................................................................................................1  \nFigure ES.2: Pakistan: Public & Publicly Guaranteed Debt ............................................................................................1  \nFigure ES.3: Pakistan’s Twin Deficits ..............................................................................................................................4  \nFigure ES.4: Government Borrowing from Banks ..........................................................................................................4  \nFigure ES.5: Federal government spending, by rigidity .................................................................................................6  \nFigure ES.6: Distribution of benefits of different subsidies by quintile .........................................................................6  \nFigure ES.7: Key Drivers of Pakistan’s Public and Publicly Guaranteed Debt ................................................................8  \nFigure ES.8: Federal SOEs – Net Profit .........................................................................................................................10  \nFigure ES.9: Direct Fiscal Support to SOEs ...................................................................................................................10  \nFigure ES.10: Total revenue, by source and year.........................................................................................................12  \nFigure ES.11: Cost of tax expenditures, by tax ............................................................................................................12  \nTABLES  \nTable ES.1: Key Fiscal Consolidation Measures ...........................................................................................................15  \nTable ES.2: PER Policy Recommendations ...................................................................................................................16  \nPreface  \nThe Pakistan Fed","cbCaioqGHJlzQIjc","https://ap.wps.com/l/cbCaioqGHJlzQIjc","pdf",1125473,4,1,27,"English","en",105,"# Executive Summary\n## Why recurrent fiscal deficits are harmful and why deficits persist\n## Rationalizing federal fiscal expenditures and improving development spending efficiency\n## Non-budgetary drivers of debt stock and debt management\n## Impact of federal SOEs on federal finances and mitigation options\n## Enhancing fiscal revenue collection\n## Policy recommendations and federal fiscal savings\n# References\n# List 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