Pakistan total debt and liabilities hit highest level of history, crosses dangerous levels
LAHORE: The Ministry of Finances’ “Debt Policy Statement” for 2018-19 revealed the total public debt and liabilities breached Rs30 trillion by the end of September 2018.
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According to the report, total public debt as a percentage of GDP stood at 72.5 percent while total debt of the government recorded at 67 percent as of end June 2018, remaining significantly higher than the 60% threshold envisaged in the Fiscal Responsibility & Debt Limitation (FRDL) Act, 2005.
The debt policy statement highlighted that composition of public debt in terms of maturity profile continued to exhibit unfavourable changes during 2017-18, as the government depended mainly on short-term domestic borrowing and most of the external loans were obtained through commercial sources.
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