KARACHI – The federal government’s total debt has crossed Rs61 trillion mark as massive domestic and foreign borrowing were made to cover the fiscal deficit.
Data shared by the State Bank of Pakistan showed that the debt of the South Asian country went up by Rs907 billion by the end of July 2023.
It added that the total debt of the government stood at Rs61.70 trillion, 22.11% up on year-on-year basis as in July 2022 it was Rs50.57 trillion.
The central bank explained the total debt includes Rs39 trillion domestic borrowing and Rs22.73 foreign borrowings.
A few day ago, the Ministry of Finance in a report said that Pakistan’s total debt decreased by $3.60 billion till March 2023.
However, the foreign debt has witnessed an increase of Rs6,000 billion due to massive depreciation of the Pakistan currency against the US dollar.
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