ISLAMABAD -- Pakistan has drastically raised its defense spending in its latest budget, citing heightened security demands following its recent military standoff with India. In contrast, development allocations have been trimmed to meet the International Monetary Fund's conditions for fiscal discipline.
Pakistan on Tuesday announced its budget for fiscal 2026, which begins on July 1, with a total outlay of $62 billion. Out of this budget, $29 billion will go toward debt financing. The most significant development in the budget is a defense spending allotment of $9 billion, which marks an increase of about 17% from the previous year.
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