Lack of structural reforms have prevented Pakistan's economy from achieving higher levels of savings and private investment. While the savings ratio declined to 13.1% in FY17 compared to 14.3% in FY16, private investment as a percentage of GDP was below 10%. The government aims to fund PKR 1 trillion projects in 2017-18 through additional borrowing, but the budget does not specify the terms of this borrowing. Pakistan also needs tax reforms like India's GST to simplify compliance and improve competitiveness, but the government has failed to address key issues holding back exports like unreliable regional trade.