February 8, 2019 (MLN): As of December 31, 2019, the central government of Pakistan was Rs.26.6 trillion in debt, going by the provisional figures released by the State Bank of Pakistan, today. Compared to the debt of Rs.22 trillion by the end of December 2017, this figure has risen by over 20%, YoY.

As per the data released, out of the total, domestic debt stands at Rs.17.5 trillion (up by 13.6%) whereas external debt is Rs.9.1 trillion (up by 36%, YoY).

The sharp rise in domestic borrowing is influenced by the substantial borrowing on short term (Rs.10.3 trillion as of December 2018) which has increased by 35.6% YoY, since the long term domestic debt figures (Rs.7.2 trillion) fell by over 7%, YoY.

On the external front, long term debts account for the largest part of total debt. The central government’s long term debts (Rs.9 trillion) rose by 37.8%, YoY while the short term debts (Rs.76.5 billion) fell by 47.7%, YoY.

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