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Every Pakistani is under Rs. 115K debt
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Every Pakistani is under Rs. 115K debt

The national debt of Pakistan along with its liabilities have raised over Rs22.5 trillion in accordance to the last fiscal year end, with a gross increase of over Rs2.6 trillion within one year, as per the notification submitted by State Bank of Pakistan.

Looking at the total economy size, the liabilities of the country have increased by another 3.7% with its Gross Domestic Product (GDP) leading to 75.9%, crossing yet another dangerous mark, clearly suggesting that the country has been targeted with a burden of great debt.

“Pakistan’s high level of public debt, with a large portion financed through short-term instruments, does make the sovereign’s ability to meet their financing needs more sensitive to market conditions,” Mervyn Tang, lead analyst for Pakistan at Fitch Ratings Ltd., told Bloomberg.

Unfortunately, this is not new as for the past three years, the PML-N government has been a target of severe criticism for acquiring expensive foreign debts and increasing the debt mountain.

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