In a significant financial update, Pakistan’s federal government has seen a substantial increase of 26 percent in its total public debt stock on a year-on-year (YoY) basis, reaching Rs. 62.291 trillion in September 2023 compared to Rs. 49.461 trillion in the same month of the previous year. As per the monthly data released by the State Bank of Pakistan (SBP), there has been a substantial increase of Rs. 12.830 trillion in Pakistan’s federal government’s total public debt stock on a YoY basis. The total public debt stock reached Rs. 62.291 trillion in September 2023, compared to Rs. 49.461 trillion in the same month of the previous year.
On a month-on-month basis, there was a decrease of Rs. 1.67 trillion (3 percent) in the total public debt stock of the federal government from August 2023, which was recorded at Rs. 63.966 trillion.
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The breakdown of the data indicates that the domestic debt of the central government experienced a YoY increase of 26 percent, escalating from Rs. 31.456 trillion in September 2022 to Rs. 39.698 trillion in September 2023.
Out of the total domestic debt, the long-term public debt witnessed an upswing from Rs. 24.626 trillion to Rs. 30.693 trillion, while the stock of short-term debt rose from Rs. 6.727 trillion to Rs. 8.883 trillion over the past year.
This surge in public debt emphasizes the ongoing financial challenges faced by the government and underscores the need for strategic fiscal management. As the country navigates economic complexities, monitoring and addressing these debt dynamics will be crucial for maintaining financial stability.
Pakistan’s Public Debt Overview (As of September 2023)
| Metric | Amount (Rs. Trillion) | Year-on-Year Change | Month-on-Month Change |
|---|---|---|---|
| Total Public Debt Stock | 62.291 | +26% | -3% |
| Domestic Debt (Central Government) | 39.698 | +26% | – |
| – Long-Term Public Debt | 30.693 | + | – |
| – Short-Term Debt | 8.883 | + | – |
