Pakistan’s public debt soared to Rs 54.353 trillion at the end of February 2023 showing an increase of as much as 27.1 percent from a year earlier.
According to the data of the State Bank of Pakistan, high financing requirements, rupee devaluation and rising interest rates have contributed to the increase of the public debt. However, the federal government’s total debt slightly fell marginally by 1.1 percent on a month on month basis.
It had come at Rs 54.942 trillion in January 2023.The debt had surged by 14 percent during the first eight months i.e. July to February of the outgoing financial year It stood at Rs 47.784 trillion by the end of June 2022.
The country’s foreign debt had sharply increased by as much as 34.7 per cent to Rs 20.282 trillion as of February 2023 from Rs 15.056 trillion a year ago.
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