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Pakistan external debt rises by 3%

According to the latest data released by the State Bank of Pakistan (SBP), Pakistan's external debt has been increased by 3%.

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Pakistan external debt rises by 3%
GNN Media: Representational Photo

Pakistan's external debt reached $116.3 billion by March this year, compared to $109.92 billion in March 2020.

As per Central Bank data, in July-April the current account deficit was $770 million while remittances increased by 29% over the same period last year.

Remittances in the first 10 months of the current financial year stood at $24.24 billion while transmittals in the first 10 months of the year were $18.79 billion.

Remittances from Saudi Arabia amounted to $6.39 billion.

According to the central bank, GDP increased by $13.38 billion in one year and reached $305 billion in March, compared to $292.47 billion last year.

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