Pakistan's fiscal deficit to surge, tax revenue to miss target in 2020: FM

Pakistan's fiscal deficit will surge to 9% in the ongoing fiscal year, the country's de facto finance minister said on Friday, as its economy reels from the fallout of the coronavirus crisis.

Pakistan, which has reported 26,435 confirmed cases of Covid-19 and 599 deaths, has announced it will start lifting a countrywide lockdown from Saturday in a bid to restart economic activity.

Fear of an economic meltdown is said to be the main reason behind ending the shutdown at a time when the country's curve, or rate of infections, is edging up sharply.

"The expectation of the deficit we had