Federal govt’s debt rises by 1.5%, surpassing Rs63 trillion

ISLAMABAD: In November 2023, the overall debt burden of the federal government, encompassing both domestic and external obligations, witnessed a marginal upturn of 1.5 per cent compared to the preceding month of October 2023.

According to the State Bank of Pakistan (SBP), the central government’s cumulative domestic and external debt reached Rs63.389 trillion by the close of November 2023, reflecting a modest escalation from the Rs62.482 trillion reported at the end of October 2023.

A comprehensive analysis exposes a notable surge in the long-term domestic debt, surging by 6.1 per cent or Rs1.9 trillion within the span of a month. The central government’s long-term domestic debt expanded to Rs33.206 trillion in November 2023, rising from Rs31.292 trillion in October 2023.

Conversely, the short-term domestic debt of the government exhibited a substantial contraction, plummeting by over 15 per cent to Rs7.62 trillion in November, down from Rs8.98 trillion in October.

Breaking down the debt into its external and domestic components, the federal government’s total domestic debt stocks saw a slight uptick of 1.3 per cent, reaching Rs40.95 trillion in November 2023, as compared to Rs40.41 trillion in October.

Simultaneously, the central government’s external debt escalated by 1.6 per cent, amounting to Rs22.434 trillion in November 2023, up from Rs22.073 trillion in October 2023.

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