Pakistan's financials look dismal; other parameters are no better: Report

For years Pakistan has been spending more than it can afford to, with the fiscal deficit rising and leading to a current account deficit, which in turn requires foreign funds and aid.
 
Worse, the deficit has been financed from reserves, bringing the country to the brink of default several times.

 
The rising fiscal deficit is a symptom of the failure of the taxation system to raise revenues as well as the government’s inability to rein in spending. Having had to resort to borrowing,