Islamabad: The International Monetary Fund (IMF) has predicted a drop in the gross debt for Pakistan from 74% of Gross Domestic Product (GDP) in 2021 to 71.3% in 2022 and 66.8% in 2023 respectively, news sources reported on April 21.
A report by IMF ‘Fiscal Monitor, Fiscal Policy from Pandemic to War’ stated that the net debt of Pakistan is anticipated to drop from 66.4% in 2021 to 65.4% of the GDP in 2022. The report projected a further decrease in the gross debt to 61.7% in 2023. Reportedly, the government revenue was predicted at 12.6% of GDP in 2022 and 12.9% in 2023. The IMF has predicted the government’s primary balance will stand at -1.0% for 2022 against -1.1% in 2021. The overall balance is anticipated to be at -5.8% for 2022.
Moreover, the report forecasted that the government expenditure will shrink to 18.4% in 2022 and 17.1% in 2023, in comparison to 18.6% in 2021. As per the report, the debt to average maturity in 2022 will be 29.2% of GDP. It was mentioned that the country will need total financing of about 27.7% of GDP in 2022.
Iqra holds BS in International Relations and is passionate about writing engaging content on trending real estate topics. When not working, she is either spending time with family, shopping, or discussing shows & movies.
