Karachi: Pakistan’s total debt and liabilities, including internal and external, reached Rs 59.7 trillion at the end of the fiscal year 2022, the State Bank of Pakistan published a provisional report on Monday.
According to the quarterly report on Pakistan’s debt and liabilities, the Central Bank said that at the end of FY22 in June, the total debt and liabilities increased by Rs 11.9 trillion and reached Rs 59.7 trillion from FY21’s Rs 47.8 trillion – a staggering 25pc year-on-year increase.
The report said that now the Debt-to-GDP percentage clocked in at 89pc compared to 85.7pc a year earlier.
Pakistan’s total debt, excluding liabilities, now stands at Rs 56.7 trillion compared to last year’s Rs 45.5 trillion – an increase of 24pc YoY.
The country’s domestic debt posted 19pc growth to reach Rs 31.036 trillion in June 2022 compared to Rs 26.265 trillion in June 2021. Meanwhile, external debt mounted by Rs 35pc or Rs 4.307 trillion to Rs 16.746 trillion at the end of FY22 versus Rs 12.439 trillion at the end of FY21.
The country’s debt and liabilities stocks comprise the government’s domestic debt, government external debt, including debt from the IMF, external liabilities, private sector external debt, Public Sector Enterprises (PSEs) external debt, PSEs domestic debt, commodity operations and intercompany external debt from direct investors abroad.
Loans from the IMF increased from Rs 1.16 trillion last year to reach Rs 1.4 trillion at the end of FY22, the report said.