Pakistan’s Public Debt Up By Rs. 4 Trillion in 7 Months As Govt Borrowing Continues

The total public debt stock of the federal government increased by 17.8 percent on a year-on-year (YoY) basis in January 2024 as compared to the same period last year. In July-January FY24, it increased by Rs. 4 trillion or 6.6 percent to Rs. 64.8 trillion YoY compared to Rs. 60.8 trillion in 7MFY23. According to the monthly data issued by the State Bank of Pakistan (SBP), the debt stock increased to Rs. 64.8 trillion in January 2024 compared to Rs. 55 trillion in January 2023, an increase of Rs. 9.82 trillion. On a month-on-month basis, the total public debt stock of the federal government decreased by 0.5 percent or Rs. 347 billion from Rs. 65.2 trillion recorded in December 2023. The domestic debt of the central government increased by 24.1 percent from Rs. 34.3 trillion in January 2023 to Rs. 42.6 trillion in January 2024. Out of total domestic debt, the long-term public debt increased from Rs. 27.5 trillion to Rs. 34.1 trillion and the stock of short-term debt increased from Rs. 6.69 trillion to Rs. 8.37 trillion in January 2024.