Pakistan’s Public Debt Surges By Rs8.3 Trillion in One Year

Despite efforts to reduce public debt, the government has not met the targets set by the Fiscal Responsibility and Debt Limitation (FRDL) Act. The FRDL Act mandates that the total public debt should not exceed 60% of the gross domestic product (GDP). However, the Ministry of Finance reported that the debt-to-GDP ratio reached 72.1% by the end of June 2018, and further increased to…