Monday, September 25, 2023

Here’s How Much Every Pakistani Citizen is in Debt

According to the statistics released by State Bank, Pakistan is indebted to Rs. 58,962 billion as of May 31st, 2023. This figure is 32% more than that of the previous year which was 44,641 billion in May 2022.

As per the report, Pakistan took a loan of Rs. 14,321 billion in the duration of May’22 – May’23. Moreover, a loan of Rs. 363 billion was additionally taken only in May 2023 surging the total debt to 58,962 billion.

In addition, Pakistan is under a domestic debt of 3,754 billion rupees and external debt of Rs. 21,908 billion. In just 1 year, the country has faced a 27% increase in internal dept from Rs. 2,900 billion to Rs. 37,000 billion.

The report also claims that the Federal government’s external debt experienced a 40.5% rise, surging from Rs. 15,500 billion to Rs. 22,000 billion.

As the current government took loans of Rs. 39 billion every day, according to the figures, every Pakistani owes more than 2.5 lac rupees debt.

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