Mettis Global News
Mettis Global News
Mettis Global News
Mettis Global News
Mettis Global News AD
Mettis Global News AD

Trending :

Central govt debt soars by 34.1% YoY to Rs58.6tr in April

Central govt debt soars by 22.11% YoY to Rs61.75tr in July
Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp

June 06, 2023 (MLN): The total debt of the central government has surged by 34.1% YoY to 58.59 trillion in April 2023, compared to Rs43.7tr in April 2022, the data released by the State Bank of Pakistan (SBP) showed.

On a sequential basis, the debt of the central government witnessed an increase of 2.58% MoM compared to Rs57.12tr in March 2023.

The increase in debt burden is primarily attributed to borrowing from domestic and foreign sources to cover the fiscal deficit.

As per details made available by SBP, the larger portion of the debt was domestically clocked in at Rs36.54tr, signifying a growth of 26.4% YoY, comprising Rs29.19tr long-term debt and Rs7.21tr short-term debt while the remaining was external.

By the end of April 2023, the government’s long-term debt increased by 25.3% YoY to Rs29.19tr as compared to Rs23.3tr recorded in the same period a year ago.

Similarly, the short-term jumped by 29.4% YoY as opposed to Rs5.57tr in April 2022.

Within the long-term domestic debt, the Pakistan Investment Bonds (PIBs) accounted for Rs22.1tr, jumped by 29.7% YoY.

Meanwhile, in the short-term domestic debt, Market Treasury Bills (MTBs) amounted to Rs7.15tr, up by 29.4% YoY.

Borrowing through Naya Pakistan Certificates has amplified by 3.97x YoY to stand at Rs138.3bn in April 2023.

A breakup of the central government's external debt shows that nearly Rs22tr came from long-term loans while Rs79.9bn came from short-term loans.

Copyright Mettis Link News

Posted on: 2023-06-06T09:59:51+05:00