Pakistan has proposed an 18.77 trillion rupees ($67.49 billion) Budget, increasing defence spending by 18% to 3 trillion rupees and limiting development expenditure.
The move aims to make the country 'invincible' amid rising tensions in the region, with Finance Minister Muhammad Aurangzeb stating that defence spending has been increased to counter uncertainty.
The budget sets a tax revenue target of 15.26 trillion rupees, up 8.2% from the previous fiscal year, and projects a federal deficit of 7.02 trillion rupees.
The government is under pressure to keep its IMF programme on track, with a $7 billion loan at stake, and has agreed to target a primary budget surplus of 2% of GDP.
