Federal govt's debt hits record high of Rs70.36tr
Business
Between September 2023 and August 2024, the debts ballooned by Rs6.39 trillion
ISLAMABAD (Dunya News) – The federal government's debt has reached an all-time high, breaking previous records.
According to data from the State Bank of Pakistan (SBP), the central government's debt surged to Rs70.362 trillion by the end of August 2024, marking the highest level in the country's history.
Between September 2023 and August 2024, debt increased by Rs6.39 trillion. As of August 2024, the federal government's domestic debt stood at Rs48.39 trillion, while external debt amounted to Rs22.02 trillion.
The latest figures of government borrowing have raised concerns about the country’s financial situation as Islamabad continues to grapple with economic challenges.
External debt increased by 1.2 percent to Rs22 trillion in July-August FY25, rising by 0.5 percent month-on-month in August, but decreasing by 8.9 per cent, compared to the same period last year.
Interestingly, the external debt to GDP has declined primarily due to currency appreciation from 305.61 in August 2023 to 278.57 in August 2024.
