Pakistan's economy facing existential crisis: Report

Discussion in 'Pakistan' started by blueblood, Aug 27, 2015.

  1. blueblood

    blueblood Senior Member Senior Member

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    ISLAMABAD: Cash-strapped Pakistan is facing an "existential crisis" due to lack of tax collection and over dependence on loans, a report warned today.

    According to a report by non-profit organisation Raftar, Pakistan's economy continues to rely heavily on "commercial loans, concessionary donor loans and aid".

    The meager tax-to-GDP ratio of 9.4 per cent has led to a public debt of 17 trillion rupees (USD 163 billion), which shows a three-fold increase since 2008 for the USD 23 ..

    Read more at:
    http://economictimes.indiatimes.com...ofinterest&utm_medium=text&utm_campaign=cppst
     
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  3. sorcerer

    sorcerer Senior Member Senior Member

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    Pakistan Foreign Debt Touches Highest Ever Figure

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    Pakistan's foreign debt increased by about Rs. 11.15 trillion in the last four years

    Islamabad: Pakistan's foreign debt and liabilities touched the highest ever figure of over Rs. 74 trillion in the first month of the current financial year, the country's central bank said today.

    It showed an increase of about Rs. 11.15 trillion in the last four years, State Bank of Pakistan (SBP) said.

    Pakistan's foreign debt and liabilities in July 2013 stood at USD 61.9 billion, which was the first financial year of the present government.

    In July 2014, Pakistan's foreign debt soared to USD 63.4 billion, showing an increase of USD 1.5 billion in one-year time, Geo TV reported.

    In July 2015, the next year, the total size of Pakistan's foreign debt rose to USD 65.1 billion recording an increase of USD 1.7 billion in one-year time.

    Then started the next year July 2016, which showed an increase of USD 7.9 billion, the highest increase in debt in one-year time.


    The SBP website reflects Pakistan's total foreign debt piled up to Rs. 74 trillion, showing a record high debt in the history of the country.

    http://www.ndtv.com/world-news/pakistan-foreign-debt-touches-highest-ever-figure-1452138
     
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  4. mayfair

    mayfair Elite Member Elite Member

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    Mashallah! Baki economy touching new heights of prosperity.

    Mahishiyat aise hi tarakki karti rahe
    , Inshallah.
     
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