In July 2023, the federal government’s total public debt stock witnessed a significant YoY increase of 22.1%, rising to Rs. 61.747 trillion compared to Rs. 50.567 trillion in the same month the previous year, marking an Rs. 11.180 trillion surge. This substantial growth in debt was revealed in the monthly data released by the State Bank of Pakistan (SBP).
On a month-on-month basis, the federal government’s total public debt stock also showed a notable increase, climbing by Rs. 907 billion from the June 2023 figure of Rs. 60.840 billion.
The data from SBP further highlights that the domestic debt of the central government experienced a significant YoY surge of 25.1%, soaring from Rs. 31.192 trillion in July 2022 to Rs. 39.016 trillion in July 2023. This increase encompassed both long-term and short-term public debt.
Of the total long-term debt, the government raised Rs. 5.75 trillion through Federal Government Bonds, which included Pakistan Investment Bonds and GOP Ijara Sukuk and Bai-Muajjal Sukuk, during the past year. The total debt stock of Federal Government Bonds increased from Rs. 19.655 trillion to Rs. 25.405 trillion. Additionally, the government generated Rs. 8 billion through the issuance of Prize Bonds within a year.
The report further indicates that external debt of the central government surged to Rs. 22.732 trillion, reflecting a 17.3% increase compared to Rs. 19.375 trillion during the same period, highlighting the evolving dynamics of the country’s debt situation.
Also, see:
Historic Saudi Investment: $25 Billion for Pakistan
Topics #featured #Pakistan #trending pakistan