Pakistan's public debt has reached unprecedented levels in its history

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Pakistan's public debt has reached unprecedented levels in its history

ISLAMABAD: Pakistan total public (domestic and foreign both) debt has reached the unprecedented levels in the history of Pakistan.

Public debt has grown by almost 60 per cent to Rs22.8 trillion from Rs14.3tr in four and a half years of the current government’s tenure to December 2017, according to the Pakistan Economic Survey 2017-18 released on Thursday.

In spite of this hefty increase in stock, the total public debt remains 66.3pc of GDP (gross domestic product) compared with 64pc of GDP in 2013 because 53.7pc growth in the size of the economy.

The numbers shared by the government show that gross domestic debt rose by over 62pc from Rs9.5tr to Rs15.4tr and external debt by almost 53pc from Rs4.8tr to Rs7.4tr.

The survey however contends that the government debt remains 60.7pc of GDP or Rs20.8tr, slightly up from 60.2pc or Rs13.5 billion in 2013.