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Pakistan’s Total Public Debt stands at Rs 41.4 trillion

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ISLAMABAD, Pakistan: The Country’s Total Public Debt as at end September 2021 stood at Rs 41.4 trillion, out of which domestic debt was Rs 26.4 trillion and external debt was Rs 15.0 trillion.

It was apprised by the Minister for Finance and Revenue Shaukat Fayaz Ahmed Tarin to the National Assembly on Thursday.

The minister told that the government’s borrowing remains a vital part of the financing mechanism for developing countries like Pakistan and is a routine function of most sovereigns across the globe. Most economies worldwide rely on debt inflows to fulfill the shortfall in available resources to fund the government budget.

Tarin told that borrowed funds are at times also required for resource-intensive infrastructure projects which are geared towards facilitating economic growth and achieving social development goals.

It was further apprised that the government of Pakistan will also borrow to mainly finance its budget deficit approved by the parliament every year.

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