A big setback for Pakistan on the Economic Front
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On a year-on-year basis, the total public debt stock of the federal government witnessed a 26 percent increase in September 2023 compared to the same month the previous year.
State Bank of Pakistan (SBP) monthly data reveals that the debt stock rose to Rs. 62.291 trillion in September 2023 from Rs. 49.461 trillion in September 2022, reflecting a growth of Rs. 12.830 trillion.
In a month-on-month analysis, the total public debt stock of the federal government decreased by Rs. 1.67 trillion (or 3 percent) from Rs. 63.966 trillion in August 2023. The data further indicates a 26 percent increase in the domestic debt of the central government, rising from Rs. 31.456 trillion in September 2022 to Rs. 39.698 trillion in September 2023.
Among the total domestic debt, long-term public debt increased from Rs. 24.626 trillion to Rs. 30.693 trillion, and short-term debt stock increased from Rs. 6.727 trillion to Rs. 8.883 trillion over the past year.
