How much debt did PTI govt pay off during the last three years? details revealed
During the fiscal year 20-21, the debt to GDP ratio had decreased by 4%, and it was further expected to decrease by 2 to 3% during the current fiscal year.
The Pakistan Tehreek-e- Insaf led government has paid PKR 7.46 trillion debt on loans during the past three years. The information was revealed in a report presented to the Senate by the Ministry of Finance (MOF).
As per the report, the government debt increased by PKR 14.90 trillion during the three years. In addition, the Finance Ministry pointed out that the government had paid 50% of the total interest on loans during these three years.
The ministry also highlighted that a significant decline was observed in the government debt. During the fiscal year 20-21, the debt to GDP ratio had decreased by 4%, and it was further expected to decrease by 2 to 3% during the current fiscal year.
Moreover, the MOF also provided a comprehensive report of internal and external debts for the three years. It revealed that the internal debt of the country increased by PKR 10 trillion. The internal debt was registered at PKR 26 trillion in August 2021 compared to PKR 16 trillion in June 2018.
Furthermore, External debt during the past three years rose by PKR 6.5 trillion. In August 2021, the external debt was recorded at PKR 14.5 trillion compared to PKR 8.5 trillion in June 2018.
The country’s total debts during this period have also increased from PKR 25 trillion in June 2018 to PKR 41 trillion in August 2021.
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