pakistan released its budget on Tuesday, in which the total expenditure has been fixed at 17.57 trillion Pakistani rupees (about 62 billion dollars). However, half of the budget of pakistan, which is already facing many problems like hunger, poverty, is being spent on repaying the loan.
Half the amount will be spent on repaying the loan
46.7 percent of Pakistan's budget will be spent on repaying the loan. That is, out of the approximately 17.60 lakh crore Pakistani rupees kept for the current financial year, about 8 lakh crore rupees will be spent only on paying the interest on the loan and meeting other liabilities. 8.26 percent of the amount kept for repaying the loan from the budget of 8.945 trillion rupees was also reduced, that is, 739 billion rupees were reduced. However, despite this, Pakistan's increasing dependence on loans has limited spending on important sectors such as health, education and development.
Pakistan's economy dependent on debt
It is estimated that Rs 7.197 trillion will be spent to repay Pakistan's domestic loans, while Rs 1.009 trillion is estimated to be spent to pay off foreign loans. By march 2024, the total
pakistan released its budget on Tuesday, in which the total expenditure has been fixed at 17.57 trillion Pakistani rupees (about 62 billion dollars). However, half of the budget of pakistan, which is already facing many problems like hunger, poverty, is being spent on repaying the loan.
Half the amount will be spent on repaying the loan
46.7 percent of Pakistan's budget will be spent on repaying the loan. That is, out of the approximately 17.60 lakh crore Pakistani rupees kept for the current financial year, about 8 lakh crore rupees will be spent only on paying the interest on the loan and meeting other liabilities. 8.26 percent of the amount kept for repaying the loan from the budget of 8.945 trillion rupees was also reduced, that is, 739 billion rupees were reduced. However, despite this, Pakistan's increasing dependence on loans has limited spending on important sectors such as health, education and development.
Pakistan's economy dependent on debt
It is estimated that Rs 7.197 trillion will be spent to repay Pakistan's domestic loans, while Rs 1.009 trillion is estimated to be spent to pay off foreign loans. By march 2024, the total debt taken by the government of pakistan has reached Rs 76.01 trillion (about US $ 269 billion), which is more than four times in the last ten years. This includes Rs 51.52 trillion of domestic debt and Rs 24.49 trillion of foreign liabilities.
Expenditure on the army increased by 20 percent
This is how much of the budget will go to repay the loan. After this, most of the remaining money will be spent on the army. After the war with India, pakistan has started strengthening its strategic power. pakistan has increased its defence budget by 20% to $9 billion (about 2.55 lakh crore Pakistani rupees). The surprising thing is that pakistan has allocated 9.24 thousand crore Pakistani rupees for health which is 0.9% of GDP and less than 1% of GDP for education, which is being criticized a lot.
debt taken by the government of pakistan has reached Rs 76.01 trillion (about US $ 269 billion), which is more than four times in the last ten years. This includes Rs 51.52 trillion of domestic debt and Rs 24.49 trillion of foreign liabilities.
Expenditure on the army increased by 20 percent
This is how much of the budget will go to repay the loan. After this, most of the remaining money will be spent on the army. After the war with India, pakistan has started strengthening its strategic power. pakistan has increased its defence budget by 20% to $9 billion (about 2.55 lakh crore Pakistani rupees). The surprising thing is that pakistan has allocated 9.24 thousand crore Pakistani rupees for health which is 0.9% of GDP and less than 1% of GDP for education, which is being criticized a lot.
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