business

September 6, 2024

Public debt rises 12.7pc YoY in July, surges to Rs69.6tr

A man counts US dollars in a money exchange shop. — AFP/FileKARACHI: Government debt rose to Rs69.6 trillion in the first month of the fiscal year 2025, marking a 12.7 per cent increase from a year earlier, data from the State Bank of Pakistan showed on Thursday.The central government debt slightly increased by 1.0 per cent on a month-on-month basis. In June, the debt stood at Rs68.9 trillion.The surge in public debt is due to high gross financing needs, ongoing budget deficits, low revenue...