The total public debt stock of the federal government increased by 22.1 percent on a year-on-year (YoY) basis in July 2023 as compared to the same month of the last year.
According to the monthly data issued by the State Bank of Pakistan (SBP), the debt stock increased to Rs. 61.747 trillion in July 2023 as compared to Rs. 50.567 trillion in July 2022, an increase of Rs. 11.180 trillion.
On a month-on-month basis, the total public debt stock of the federal government increased by Rs. 907 billion from Rs. 60.840 trillion recorded in June 2022.
The data shows that the domestic debt of the central government increased by 25.1 percent from Rs. 31.192 trillion in July 2022 to Rs. 39.016 trillion in July 2023.
Out of total domestic debt, the long-term public debt increased from Rs. 23.776 trillion to Rs. 29.588 trillion and the stock of short-term debt increased from Rs. 7.306 trillion to Rs. 9.289 trillion during the last year.
Out of the total long-term debt, the government raised Rs. 5.75 trillion through Federal Government Bonds including Pakistan investment bonds and GOP Ijara Sukuk and Bai-Muajjal of Sukuk during the last year. The total debt stock of Federal Government Bonds increased from Rs. 19.655 trillion to Rs. 25.405 trillion. The government raised Rs. 8 billion through issuing of Prize Bonds in one year.
The public debt remained at the same level of Rs. 475 billion in terms of SBP’s on-lending to GOP against SDRs allocation. The unfunded debt decreased to Rs. 2,938 billion from Rs. 3,259 billion. Foreign currency loans jumped to Rs. 385 billion from Rs. 10 billion during the period.
The report shows that the external debt of the central government increased to Rs. 22.732 trillion from Rs 19.375 trillion during the period, registering an increase of 17.3 percent.
