Pakistan Debt
Pakistan govt's debt moves up by 22 pc at the end of current fiscal
Islamabad: The Pakistani government's total debt has increased by 21.7 percent to Rs 38.7 trillion during the last two years amid a spike in domestic debt.
The data released by the State Bank of Pakistan (SBP) on Monday showed that during the past couple of years, the government’s domestic and external debts stood at Rs 38.69 tr at the end of the fiscal FY21 compared to Rs31.78 tr in FY19. The debts in FY20 were Rs35.1tr, reports Dawn News.
The external debt (in terms of rupees) did not show much difference as it rose to Rs12.42 tr compared to Rs11.055 tr in FY19. However, the government’s external debt did not include loans from the International Monetary Fund and foreign exchange liabilities, the Pakistani newspaper reported.
The central government’s domestic debt went up by 26.7pc during the past two years making it more difficult to bear the enlarging size of debt servicing which eats up one third of the annual budget of the country, the newspaper reported.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
