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LSM grows by modest 2 25pc in July - Newspaper

Crisis upon crisis

Crisis upon crisis July 26, 2021 The state of the economy of any country is determined through its Gross Domestic Product (GDP). Ever since the PTI government has come into power Pakistan’s economy has been on a constant downward trajectory, even before the Covid-19 crisis hit and slowed down the global economic wheel. At the very same time, all key macroeconomic sectors face a new low, with serial mismanagement and dubious statistics becoming the norm in today’s economic climate. While countless dubious statistics have been presented in the budget documents, the reality is appalling. In all this, the federal government’s self-complacency will lead to its downfall

Public debt increases 8 23pc to Rs37 99trln in 11 months

July 6, 2021 KARACHI: Pakistan’s public debt rose by Rs2.89 trillion or 8.23 percent in 11 months of the fiscal year ended June 30, the central bank data showed on Monday, due to increased government borrowing to meet the spending requirements during the coronavirus pandemic, and higher interest payments. The central government’s debt stood at Rs37.997 trillion at the end of May 2021. The debt amounted to Rs35.107 trillion in the period ended June 2020. The debt increased by 10.17 percent year-on-year in May. It was Rs34.489 trillion in the period ended May 31, 2020. Fiscal Responsibility and Debt Limitation (FRDL) Act 2005 defines “Total Public Debt” as debt owed by the government (including federal government and provincial governments) serviced out of consolidated fund and debts owed to the International Monetary Fund.

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