Pakistan’s economy faces a severe crisis marked by high inflation, low growth, dwindling reserves, currency depreciation, and deep fiscal imbalances compounded by political uncertainty. Against this backdrop, the Federal Budget 2023-24 was presented. SPDC’s report Pakistan’s Economic Outlook and the Federal Budget 2023–24 analyzes macroeconomic trends and fiscal priorities, assessing implications for revenue mobilization, expenditure management, and social protection.