ISLAMABAD – Pakistan External Debt and Liability (EDL) stock provisionallystood at $91 billion at end February 2018, out of which external publicdebt was $69.3 billion, revealed the Economic Survey 2017-18 released.
Disbursements against external public debt were cumulatively recorded ataround $7.3 billion during the first eight months of the current fiscalyear while external public debt servicing was $3.338 billion during thesaid period.
Segregation of this aggregate external debt servicing number showsrepayment of $2.420 billion on maturing external public debt stock andinterest payments of $918 million.
Total public debt provisionally stood at Rs 23.608 trillion at end February2018 while total debt of the government was Rs 21.552 trillion.
The gross domestic debt recorded an increase of Rs 1. 093 trillion duringfirst eight months of the current fiscal year while external debt increasedby Rs 1.107 trillion.
In addition to the financing of fiscal deficit,
(i) increase in credit balances of the government with banking system;
(ii) depreciation of Pak Rupee against US Dollar; and
(iii) depreciation of US Dollar against other international currenciescontributed towards the increase in debt.
The survey noted that total public debt was Rs 22.82 trillion by the end ofDecember 2017 while showing an increase of Rs 1.413 trillion during firstsix months of the current fiscal year (2017-18).
Out of this total increase of Rs1.413 trillion, increase in domestic debtwas Rs 582 billion while government borrowing for the financing of fiscaldeficit from domestic sources was Rs 412 billion, indicating an increase ingovernment credit balances with the banking system during the period underreview.
Increase in external debt contributed Rs 830 billion to the public debtwhile government borrowing for the financing of fiscal deficit fromexternal sources was Rs 384 billion.