Karachi July 5 2023: As per the data released by the State Bank of Pakistan (SBP), the government’s domestic debt increase to record PKR 37,054 billion as of May 2023 compared to PKR 31,085 billion as of June 2022.
Coutry's domestic debt increases by PKR 5,968 billion or 16.1 percent since June 2022, while short term debt increases by 8.5 percent to PKR 7,339 billion during the same period.
The external debt of the country has increased by 23.6 percent in first eleven months of this fiscal year to PKR 21,908 billion as of May 2023 due to rupee depreciation. Average Pakistan Rupee depreciated by 28.4 percent during the same period from 204 in June 2022 to 285 in May 2023. However, government has repaid external debt amounts to USD 5.17 billion since June 2022, according to central bank data.
Also, the outstanding position of Naya Pakistan Certificates increased to PKR 139 billion as of May 2023 from PKR 92 billion in June 2022.
The central Government total debt also increased by PKR 11,129 billion or 18.9 percent YoY to PKR 58,962 billion.