By WEB DESK: During the initial 10 months of fiscal year 2024, the central government’s combined domestic and external debt increased by 8.6%.
As per the recent data disclosed by the State Bank of Pakistan (SBP), the federal government’s total debt reached Rs 66.083 trillion by April 2024, up from Rs 60.841 trillion in June 2023, marking a rise of Rs 5.242 trillion.
Specifically, the domestic debt of the federal government surged to Rs 44.48 trillion by April 2024, compared to Rs 38.810 trillion in June 2023.
However, in the fiscal year’s span from July to April, the primary augmentation occurred in domestic debt, experiencing a 14.6% increase, amounting to Rs 5.671 trillion.
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In addition, within domestic debt, long-term debt escalated by 20% to Rs 35.22 trillion by April 2024, which consisted of Rs 32 trillion of permanent debt, Rs 2.79 trillion of unfunded debt, and Rs 373 billion of foreign currency loans. Conversely, short-term domestic debt slightly decreased by 1.8% to Rs 9.166 trillion by April 2024.
Likewise, the external debt of the federal government saw a decline of 2%, dropping from Rs 22.031 trillion in June 2023 to Rs 21.602 trillion in April 2024. This comprised Rs 21.499 trillion of long-term external debt and Rs 102 billion of short-term debt.
The Weighted Average Customer Exchange Rates for the US dollar were Rs 286.3905 in June 2023 and Rs 278.3527 in April 2024.
