February, 12 2024 (MLN): The total government domestic debt and liabilities have increased by 27.74% YoY to Rs43.2 trillion in December 2023, compared to Rs33.82tr in December 2022, the latest data released by the State Bank of Pakistan (SBP) showed.
On a sequential basis, domestic debt and liabilities have risen by 4% MoM compared to Rs41.54tr in November 2023.
According to details provided by the State Bank of Pakistan (SBP), the larger portion of the debt was permanent debt, which totaled Rs30.89tr, signifying a growth of 29.63% YoY.
This comprised Rs30.03tr in federal government bonds, Rs474.94bn in SBP's on-lending to the government of Pakistan against SDRs allocation, Rs382.65bn worth of prize bonds, and the remaining Rs2.84bn in market loans.
The floating rose by 35.95% YoY in December to Rs8.37tr compared toRs6.16tr in the same period last year.
Out of the total floating debt, Market Treasury Bills comprised the major proportion and stood at Rs8.29tr in December 2023.
On the other hand, the government's unfunded debt fell by 7.86% YoY to Rs2.83tr in December 2023, primarily due to a significant drop of 7.4% YoY in saving schemes, which amounted to Rs2.74tr compared to Rs2.96tr in the SPLY.
Foreign currency loans increased significantly as they clocked in at Rs378.28bn in December 2023, compared to Rs9.55bn in December 2022.
Borrowing through Naya Pakistan Certificates also elevated by 8.23% YoY to Rs118.72bn in December 2023.
Conversely, on a sequential basis, it fell by 5.44% MoM in December compared to Rs125.55bn in November.
Moreover, domestic liabilities of the government dropped by 4.56% YoY to stand at Rs611.63bn in the review month.
