The State Bank of Pakistan (SBP) has reported a reduction of Rs 456 billion in the federal government’s debt during October 2024. The government’s total debt has now declined to Rs 69,114 billion, reported 24NewsHD TV Channel on Thursday.
According to the SBP, in September 2024, the federal government’s debt stood at Rs 69,570 billion, reflecting a slight improvement in October. However, on an annual basis, the federal debt has increased by 10.6%.
The report also highlighted that domestic borrowing saw a 17% annual increase. In October 2024, domestic debt decreased by Rs 305 billion, bringing it to Rs 47,231 billion, compared to Rs 47,536 billion in September.
On the other hand, external debt dropped by Rs 150 billion in October 2024, reaching Rs 21,884 billion. Over the year, the external debt witnessed a reduction of Rs 184 billion.
Reporter: Ashraf Khan