As in previous years, federal govt debt rose in 2024

ISLAMABAD: The federal government’s dependence on loans continued in the year 2024 as its debt increased by a whooping Rs3,919 billion. Domestic debt of the federal government increased while foreign debt decreased. According to the document of the State Bank of Pakistan, in the year 2024, domestic debt of the federal government increased by Rs4,632 billion, but foreign debt decreased by Rs710 billion. According to the government data available till October 2024, its debt was Rs69,114 billion, however, the data of government debt for November and December 2024 is not available.

According to the document of the State Bank of Pakistan, by October 2024, the domestic debt of the federal government was Rs47,231 billion and foreign debt was Rs21,884 billion. In December 2023, the volume of federal government debt was Rs65,195 billion, in which local debt stood at Rs42,595 billion and foreign debt at Rs22,600 billion.