Pakistan's debt to GDP ratio reaches all-time high
Notes worth Rs1.20 billion were printed per day during tenure of current government.
ISLAMABAD (Daily Dunya) - Despite tall claims of breaking ‘beggar’s bowl’, Pakistan’s loan volume has soared to all-time high of mammoth Rs23, 389 billion during Nawaz Sharif regime.
Notes worth Rs1.20 billion were printed per day during tenure of current government, quoted State Bank of Pakistan (SBP).
Nawaz’s government borrowed Rs35, 00 billion in last one and a half year and an overall of Rs9, 000 billion in almost four years.
At the end of Pakistan Peoples Party’s (PPP) reign, total volume of loan was Rs14, 318 billion out of which Rs9, 522 billion was internal and Rs4, 800 billion was external.
Total volume of loan in 1971 was merely Rs30 billion which surged to Rs2, 946 billion in 1999 and further piled up to Rs6, 126 in 2008.
It may be recalled that debt to GDP ratio cannot exceed 60 percent mark but currently it is fluctuating at an alarming 69.8 percent which stands against parameters set in 2005.
