Pakistan's total debt, liabilities cross Rs 50 trillion - greater than country's GDP

photo supply : AP/FILE

Pakistan's complete debt, liabilities cross Rs 50 trillion - more than nation's GDP

Pakistan's economic climate is still in a quagmire.

IMF rejects Imran govt's borrowing request.

Pakistan PM Imran Khan describes increasing debt as 'country wide security difficulty'.

Pakistan financial system information: A day after Pakistan leading Minister Imran Khan admitted that his executive did not have satisfactory resources to spend on people’s welfare, official statistics confirmed that the country's complete debt and liabilities have crossed a whopping Rs 50.5 trillion. here is a great deal more that Pakistan's gross domestic product (GDP).  

in response to statistics released by way of State bank of Pakistan (SBP), debt amounting to Rs 20.7 trillion came under Imran Khan's regime alone.

In June 2018, every Pakistani owed Rs a hundred and forty four,000, which multiplied to Rs 235,000 via September 2021, an extra burden of Rs ninety one,000 or sixty three% all the way through  the ruling Tehreek-e-Insaf (PTI) tenure, specific Tribune said quoting SBP records. 

IMF rejects borrowing request

In additional humiliation for the Imran Khan government, the foreign financial Fund (IMF) has rejected Pakistan's request to 'maintain a door open for borrowing'.

The international lender turned down Imran executive's notion to allow it to take loans equal to 2 per cent of the GDP  in a fiscal year. The IMF did not budge despite the government's opinion that it was its constitutional right to take loans to finance its operations, categorical Tribune reported. 

'Helpless' Imran Khan

Pakistan PM Imran Khan had prior this week expressed helplessness in resurrecting the nation's economy, asserting his govt lacks enough dollars. 

"Our biggest issue is that we don’t have sufficient money to run our nation due to which we must borrow loans," Khan mentioned.

He stated that as a result of lack of resources the executive had little to spend on the welfare of the hundreds. Khan said that the rising international accounts and low tax revenue had turn into an issue of 'country wide protection'.

additionally read: Our biggest issue is we don’t have satisfactory funds to run our nation: Pak PM Imran Khan

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