Friday, June 14, 2024

Pakistan’s Total Debt Reaches Rs. 55 Trillion after Addition of Rs. 7.2 Trillion in Just 7 Months

In just the first seven months of this fiscal year, the coalition government has managed to add a net Rs7.2 trillion to the debt pile, or an average of Rs34 billion a day. The difference between federal revenue and expenditures and debt accumulation are now almost three times greater than each other.

The Central Government Debt Bulletin till January 2023 was published on Tuesday by the State Bank of Pakistan (SBP), demonstrating the negative effects of the severe currency devaluation on debt.

According to the SBP statement, the federal government’s debt climbed to approximately Rs55 trillion as of the end of January, an increase of Rs7.2 trillion during the time between July 2022 and January 2023. During this time, the debt load climbed at a 15% annual rate.

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