IMF Projects Decline in Pakistan’s Gross Debt in FY23 and FY24
The total government debt for Pakistan, according to projections from the International Monetary Fund (IMF), is expected to fall from 75.8 percent of GDP in 2022 to 73.6 percent in 2023 and then to 68.9 percent in 2024.
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According to the IMF study “Fiscal Monitor, on the Path to Policy Normalization,” Pakistan’s net debt is predicted to drop from 69.5 percent of GDP in 2022 to 68.7 percent of GDP in 2023. In 2024, it is anticipated that the net debt will further decrease to 65 percent.
In comparison to 12.1 percent during the same period in 2022 and 12.4 percent in 2021, the government revenue is predicted to account for 12.2 percent of GDP in 2023 and 12.5 percent in 2024.
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The government’s main balance was predicted by the Fund to be -0.5% in 2023 as opposed to -3.0% in 2022. Additionally, compared to -7.8 percent in 2022, the government’s total balance is predicted to be -6.8 percent for 2023 and -8.3 percent for 2024.
According to the analysis, government spending will account for 19.1% of GDP in 2023 as opposed to 19.9% in 2022, but will rise to 20.8 percent in 2024.
The analysis estimates that the nation’s debt to average maturity in 2023 will be 26.8% of GDP. In 2023, the entire finance requirement would be equivalent to around 26.8% of GDP.
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