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Public debt reaches Rs.15,534 bln: Economic Survey

June 3, 2014

Public debt stock reached at Rs.15,534 billion as at end March, 2014 representing an increase of Rs.1,168 billion or 8 percent higher with that of last fiscal year.

According to the Economic Survey of Pakistan released here by

Finance Minister, Mohammad Ishaq Dar, the primary source of increase in public debt during first nine months of current fiscal year was in domestic debt that positioned at Rs.10,823 billion representing an increase of Rs.1,306 billion.

The external debt posed at Rs.4,711 billion representing a decrease of Rs.138 billion as compared to end June 2013.

The decline in external debt during first nine months of current fiscal year is mainly attributed to net repayments and appreciation of Pak Rupee against US Dollar.

Over the past few years, government relied mainly on the domestic borrowing which resulted in gradual increase of its share to around 70 percent of the total public debt as at end March, 2014 compared to 51 percent in 2008-09.

The evolution of funding mix adopted during last few years showed an implicit borrowing strategy that increasingly relied on short-term domestic borrowing owing to insufficient external inflows.

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Source: Balochistan Times (Pakistan)

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