Federal government debt to rise by 3.9 trillion rupees in 2024 – Trendy Blogger

The federal government’s reliance on loans continued in 2024, with its total debt increasing by 3,919 billion rupees during the year, according to a document issued by the State Bank of Pakistan (SBP).

This increase is due to the significant increase in domestic debt, while external debt has witnessed a decline.

Data from the State Bank of Pakistan revealed that the federal government’s domestic debt grew by 4,632 billion rupees in 2024, while external debt decreased by 710 billion rupees.

As of October 2024, total government debt was 69.114 billion rupees, with domestic debt 47.231 billion rupees and external debt 21.884 billion rupees.

Comparing the figures with December 2023, the total debt of the federal government reached 65.195 billion rupees, of which 42.595 billion rupees were domestic debts and 22.600 billion rupees were foreign debts.

However, updated figures for November and December 2024 have not yet been released.

The increase in domestic borrowing highlights the government’s continued reliance on domestic financial sources, even as it manages to reduce its external debt obligations. Awaiting further details on the debt trajectory for the remaining months of 2024.

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