ISLAMABAD: The country will spend around Rs 7.302 trillion on debt servicing including interest payments and retiring the principal as and when due during 2023-24 which is 50.5 percent of total budget outlay of Rs 14.460 trillion.
The government has earmarked Rs 7.302 trillion in the budget 2023-24 against Rs 3.950 trillion for the current fiscal year which was later revised upward to Rs 5.520 trillion.
During the budget year 2023-24 on foreign debt servicing, the country will spend Rs872.219 billion against Rs 510.972 billion budgeted for the outgoing fiscal year which was later revised up to Rs 725.370 billion.
On domestic debt servicing, the government will spend Rs 6.430 trillion in 2023-24 against Rs 3.439 trillion in 2022-23 which was later revised to Rs 4.795 trillion.
Foreign loans, debt servicing: Repayment revised upward by MoEA
Pakistan’s total public debt was recorded at Rs 59,247 billion end-March 2023, registering an increase of Rs10,005 billion during the first nine months of the current fiscal year.
Copyright Business Recorder, 2023
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