Posted 2/19/2024, 10:31:56 AM
Pakistan's Soaring Debt Hits $271 Billion, Raising Economic Concerns
- Pakistan's total debt and liabilities stand at $271.2 billion, termed as "alarming" by the report
- External debt has nearly doubled and domestic debt grown 6-fold since 2011
- Debt per capita increased 36% while GDP per capita declined 6% in 12 years
- Borrowing used for consumption not productive investments, raising sustainability concerns
- Report outlines 7 recommendations including fiscal discipline, expanding tax net, and export focus
