Domestic debt up 3.7pc in July-August

Updated October 08, 2019

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According to data released by the State Bank of Pakistan on Monday, the government’s domestic debt increased by Rs764 billion to Rs21.495 trillion in August, up from Rs20.731tr as of June end. — AP/File
According to data released by the State Bank of Pakistan on Monday, the government’s domestic debt increased by Rs764 billion to Rs21.495 trillion in August, up from Rs20.731tr as of June end. — AP/File

KARACHI: The government’s domestic debt grew by 3.68 per cent in the first two months of this fiscal year while external borrowing decreased by 2.8pc during the period.

According to data released by the State Bank of Pakistan on Monday, the government’s domestic debt increased by Rs764 billion to Rs21.495 trillion in August, up from Rs20.731tr as of June end.

Meanwhile, the external debt fell by Rs310bn to Rs10.745tr in August, as compared to Rs11.055tr by June.

The report also indicates that the central government’s collective debts (domestic plus external) rose by a cumulative Rs454bn to Rs32.24tr.

Details suggest that the government’ move against corruption also affected the prize bonds markets as measures to crack down on black money decreased prize bonds debt by Rs140.8bn to Rs753.1bn in August, from Rs893.9bn.

Published in Dawn, October 8th, 2019