Govt debt rises by 14.5% to Rs41tr in November 2021

January 5, 2022(MLN): The total debt of the central government during November 2021 surged to Rs41 trillion, registering a jump of 14.5% YoY as compared to Rs35.8tr recorded in the same period last year, data released by the State Bank of Pakistan (SBP) showed on Wednesday.

The larger portion of the debt was domestic that clocked in at Rs26.82tr, signifying a growth of around 11.24% YoY, comprising of Rs21tr long-term debt and Rs5.8tr short term debt while the remaining was external.

By the end of November 2021, the government’s long-term debt escalated by almost 10% when compared to Rs19tr at the end of November’20.

Within the long-term domestic debt, the Pakistan Investment Bonds (PIBs) accounted for Rs15tr, and Saving Schemes accounted for Rs3.47tr.

Meanwhile, the short-term debt surged by 16% YoY whereby Market Treasury Bills (MTBs) amounted to Rs5.8tr.

Borrowing through Naya Pakistan Certificates witnessed a notable surge of Rs38.7bn during July-November 2021, compared to Rs40mn in the same period last year.

A breakup of the central government external debt shows that nearly Rs14tr came from long-term loans while Rs202bn came from short-term loans.

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