Thursday, May 30, 2024

Pakistan’s Total Debt rises to All-time high of Rs. 51.724 Trillion

Pakistan’s total debt and liabilities (domestic and external) stocks surged to an all-time high level of Rs 51.724 trillion at the end of December 2021.

The federal government’s overall debt stocks increased by 8% in the first half of this fiscal year, according to the State Bank of Pakistan (SBP) (FY22).

In December 2021, the central government’s domestic and external debt stocks climbed by Rs 3.893 trillion, reaching a new high of Rs 51.724 trillion, up from Rs 47.931 trillion in June 2021.

According to economists, the country’s debt burden is growing as a result of sustained borrowing from domestic and external resources to finance the fiscal deficit.

The external debt, which increased by 20% over the time under study, was the most significant rise.

The federal government’s external debt increased by Rs 3.518 trillion to Rs 21 trillion in December 2021, up from Rs 17.846 trillion in June 2021.

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