Govt domestic debt, liabilities rise 17.7% YoY to around Rs49tr in November

January 06, 2025 (MLN): The total government domestic debt and liabilities have increased by 17.71% to around Rs49 trillion in November 2024, compared to Rs41.53tr in the same period last year, the latest data released by the State Bank of Pakistan (SBP) showed.

On a sequential basis, domestic debt and liabilities increased by 2.85% compared to Rs47.53tr in the same month last year.

According to details provided by the State Bank of Pakistan (SBP), the larger portion of the debt was permanent debt, which totaled Rs35.64tr, signifying a growth of 19% YoY.

This comprised Rs32.77tr in federal government bonds, Rs475bn in SBP's on-lending to the government of Pakistan against SDRs allocation, Rs393bn worth of prize bonds, and the remaining Rs3bn in market loans.

The floating debt rose by 26.4% in November to Rs9.63tr compared to Rs7.62tr in the same period last year.

Market Treasury Bills comprised the major proportion of the total floating debt, and stood at Rs9.55tr in November 2024.

On the other hand, the government's unfunded debt inched down by 1% YoY to Rs2.85tr in November 2024.

Foreign currency loans down by 2.5% as they clocked in at Rs373bn in November 2024, compared to Rs383bn in November 2023.

Borrowing through Naya Pakistan Certificates also reduced by 37.25% YoY to Rs792bn in November 2024 while on MoM basis, it increased by 4.17% compared to Rs76bn in October 2024.

Moving forward, domestic liabilities of the government dropped by 46.73% YoY and were reported at Rs310bn in the review month.

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