Govt domestic debt, liabilities rise 20.81% YoY to Rs45tr in April

June 07, 2024 (MLN): The total government domestic debt and liabilities have increased by 20.81% YoY to Rs45 trillion in April 2024, compared to Rs37.25tr in April 2023, the latest data released by the State Bank of Pakistan (SBP) showed.

On a sequential basis, domestic debt and liabilities have risen by 2.48% MoM compared to Rs43.91tr in March 2024.

According to details provided by the State Bank of Pakistan (SBP), the larger portion of the debt was permanent debt, which totaled Rs32.06tr, signifying a growth of 24.01% YoY.

This comprised Rs31.2tr in federal government bonds, Rs474.9bn in SBP's on-lending to the government of Pakistan against SDRs allocation, Rs383.7bn worth of prize bonds, and the remaining Rs2.84bn in market loans.

The floating debt rose by 27.04% YoY in April to Rs9.17tr compared to Rs7.22tr in the same period last year.

Market Treasury Bills comprised the major proportion of the total floating debt, and stood at Rs9.08tr in April 2024.

On the other hand, the government's unfunded debt fell by 5.89% YoY to Rs2.79tr in April 2024, primarily due to a significant drop of 5.54% YoY in saving schemes, which amounted to Rs2.7tr compared to Rs2.86tr in the SPLY.

Foreign currency loans fell significantly as they clocked in at Rs373.5bn in April 2024, compared to Rs380.93bn in April 2023.

Borrowing through Naya Pakistan Certificates also reduced by 32.96% YoY to Rs92.7bn in April 2024.

Similarly, on a sequential basis, it fell by 1.23% MoM in April compared to Rs93.85bn in March.

Moving forward, domestic liabilities of the government dropped by 25.71% YoY and were reported at Rs517.8bn in the review month.

Copyright Mettis Link News