On the first day of the new fiscal year, the State Bank reported that monetary expansion was much lower than last year; While borrowing for budgetary support was sharply low while private sector borrowing picked up pace.
According to a report issued by the State Bank on Tuesday, monetary expansion was 9.51 per cent compared to 15.9pc in FY-13. The report contains data up to June 20.
The details reveal that the government borrowing for budgetary support was just 20pc of what was borrowed by the government in the last fiscal year. Till June 20, government borrowing for budgetary support was Rs268bn while during the same period last year, borrowing was Rs1,294bn.
