KARACHI: Pakistan’s rising debt burden has pushed the liability per citizen to nearly Rs400,000, as the country’s total debt increased by 9.4% over the past year, according to official figures.
The overall volume of Pakistan’s debt has, for the first time in history, approached Rs80 trillion.
The combined domestic and external debt rose from Rs73,036 billion to Rs79,882 billion during the year under review.
According to the State Bank, total debt recorded a 9.4% annual increase and a 0.7% monthly rise.
A year earlier, in February, the total debt stood at Rs73,036 billion, highlighting a steady upward trend.
Domestic debt witnessed a significant increase, rising from Rs51,022 billion to a record Rs56,679 billion for the first time.
Data released by the central bank showed that domestic debt had stood at Rs55,983 billion in January before climbing further.
Meanwhile, Pakistan’s external debt increased on an annual basis from Rs22,014 billion to Rs23,203 billion.
However, on a monthly basis, external liabilities declined slightly from Rs23,344 billion in January to Rs23,203 billion.
The State Bank further reported that interest payments on both domestic and external debt have reached Rs4,000 billion.
In addition to loans and interest, the volume of government guarantees has climbed to Rs5,000 billion, adding further pressure on the fiscal framework.
