The Federal Ministry of Finance on Thursday released a report on the country’s debt.
According to the report of the Ministry of Finance, due to the increase in interest rates, the volume of loans increased, and due to the increase in the exchange rate of the dollar, inflation, and debt also increased.
As per the report, Pakistan’s debt was Rs 55,800 billion till December 2022, the exchange rate of July-December dollar increased by 11 percent, the domestic debt of Pakistan’s debt was 62.8 percent till December, foreign debt was 37.2 percent of Pakistan’s debt till December, the foreign debt of $ 3.2 billion was taken from July to December, $ 2.7 billion was returned.
According to the Ministry of Finance, the inflation rate in the country will be 28.5 percent this year, the inflation rate will be 21 percent in the next financial year, Pakistan’s public debt is still risky, by the year 2026, the debt economy is expected to be more than 70 percent, the rate of increase in inflation in the year 2026 can be 6.5 percent.
The report also mentioned that by the year 2026, the exchange rate of the dollar is expected to increase by 6 percent, and the economic growth rate is expected to be 0.8 percent in the current financial year, the target was to keep the economic growth rate at 5 percent in the current financial year’s budget.
The report predicted that inflation will increase by 21 percent in the fiscal year 2024, 7.5 percent in the fiscal year 2025, and 5.5 percent in the fiscal year 2026. It also predicted that economic growth will be 3.5 percent in the fiscal year 2024, 5 percent in the fiscal year 2025, and 5.5 percent in the fiscal year 2026.