ISLAMABAD: Finance Ministry has stated that the total public debt stood at Rs59,247 billion in March 2023 with domestic debt Rs35,076 billion and external debt Rs24,171 billion.

According to the Finance Ministry’s fiscal risks statement, total debt of the government stood at Rs54,392 billion. In percentage of total debt domestic debt is 50.2 per cent and external debt 40.8 per cent.

Over the last five years, total public debt of the government has exceeded the prescribed limit of 60 per cent of GDP under the FRDL Act. This is primarily due to consistent fiscal deficits, averaging six per cent of GDP since 2010, which have led to a rapid build-up of debt.

Total public debt can increase due to both budgetary and non-budgetary factors, such as unfavourable movements in interest and exchange rates and the realisation of contingent liabilities.

Pakistan total public debt in dollar stood at US$208.8 billion, external debt and liabilities at US$126.1 billion, external public debt US $86.5, domestic debt at US$123.6 billion.

Copyright Business Recorder, 2023