Sudden surge in Pakistan public debt in FY 18, SBP makes revelations
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LAHORE - State Bank of Pakistan on Thursday has revealed sudden surge in the public debt of Pakistan in last one year.
SBP stated that the gross public debt of Pakistan has mounted by almost 16.6% during the FY18, which is almost two times as compared to the rate recorded in FY17.
It is observed that, the gross public debt had boosted by almost 5.6% to 72.5% of GDP by the end of June 2018, and likewise was demonstrated in government debt.
The report affirmed the debt to GDP ratio lingered higher than 60% limit predicted in the Fiscal Responsibility & Debt Limitation Act (FRDLA), 2005.
“In complete terms, gross public debt has attained to level of Rs 25trillion by June 2018 end, showing a rising trend of Rs 3.5 trillion during FY18.”
