Govt debt reaches all-time high of Rs70.362tn
08 October, 2024 20:19
USD TO PKR
Pakistan’s federal government debt has reached an unprecedented level of Rs 70.362 trillion as of August 2024, according to data released by the State Bank of Pakistan.
The latest debt see increase of Rs 1.448 trillion in just the first two months of the fiscal year 2024-25.
The data also shows that the federal government’s debt ballooned by Rs 739 billion in August alone, while the total debt increased by Rs 6.392 trillion over the past year, from September 2023 to August 2024.
The State Bank’s report highlights the alarming rise in both domestic and foreign debt, raising concerns about the country’s economic stability and sustainability.
The federal government’s growing debt burden is likely to put pressure on the national exchequer and may have far-reaching implications for the economy.
The surge in debt is attributed to various factors, including increased borrowing to finance budget deficits and meet external payment obligations.
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