March 5, 2019 (MLN): Net borrowing by the government as of February 22, 2019 has dropped to Rs.555.2billion, reports the State Bank of Pakistan in its weekly report on monetary aggregates. As of last week, the borrowed amount was recorded at Rs.716.4 billion.
As compared to the corresponding day last year, the net amount borrowed by the government has multiplied by nearly twofold as the borrowing stood at Rs.285 billion.
The amount borrowed for budgetary support in particular stands at Rs.710.9billion, while last year it was Rs.325.98 billion.
The government has borrowed a net amount of Rs.1.5 trillion from the central bank for budgetary support. Breaking down this figure, the data shows that the federal government borrowed Rs.1.7 trillion from SBP, while the provincial government retired Rs.218 billion.
Meanwhile Rs.776.6 billion of scheduled banks were retired of which federal government retired Rs.673 billion while provincial government retired Rs.103.5 billion.
