Pakistan's debt, liabilities touch 68% of GDP: SBP
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Pakistan's debt and liabilities have risen to 68 per cent of the total size of economy or 15.2 trillion Pakistani rupees, according to data released by SBP.
According to the State Bank of Pakistan (SBP), the increase in the debt burden is mainly the result of a federal budget deficit and Pakistani rupee depreciation.
Excluding liabilities, Pakistan's total debt stood at Rs 14.5 trillion or 65.3 per cent of the country's GDP as on September 2012, the data showed.
The International Monetary Fund (IMF) has recently asked the government to reduce debt as it was too high to be sustained.
According to the Fiscal Responsibility and Debt Limitation Act of 2005, total debt should not exceed 60 per cent of GDP.
According to the SBP figures, domestic debt has surged to Rs 8.2 trillion, 53.6 per cent of total debt and roughly 37 per cent of GDP (Gross Domestic Product).
GDP is the monetary value of all the finished goods and services produced within a country's borders in a specific time period.
The government in the last three years has tried to float USD 500 million worth of exchangeable Euro bonds backed by shares of blue-chip company Oil and Gas Development Company.
However, deteriorating economic conditions and Eurozone debt crisis have so far left all such attempts unsuccessful.
Meanwhile, the Pakistan's benchmark Karachi Stock Exchange 100 Index (KSE-100 Index) inched up by 39.04 points, or 0.24 per cent, to end at 16,640.81 today.
An analyst with Capital securities said that the market had closed positively for a fourth straight session as investors were now comfortable with the political situation in the country and have also brushed aside the tough economic decisions.
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