Govt borrowed $3.9b in four months of FY22

By: News Desk      Published: 03:20 PM, 23 Nov, 2021
Govt borrowed $3.9b in four months of FY22
Representational image.

The government of Pakistan had borrowed fresh external loans of $3.9 billion during the first four months of the fiscal year 2022.

According to the Economic Affairs Division numbers, of this fresh borrowed S3.0 billion loans, around $2.3 billion or 59 percent of the total acquired loans has been for the budgetary support.

The government had borrowed $866 million from commercial banks while borrowing from Asian Development Bank (ADB), Islamic Development Bank (IDB) and World Bank amounted to $1.869 billion.

The government expects external borrowings of $10.370 billion in FY22 and also expects grants of $3.717 billion in FY22.

During July to October 2020, external borrowing stood around $3.3 billion.

During FY 21 total external borrowing was around $14.282 billion. Of the total borrowing, some 57 percent or $8.171 billion was for the budgetary support.