Pakistan’s total public debt reached $286.832 billion (PKR 80.6 trillion) as of June 2025, almost 13 per cent higher than the previous year, according to official data released by the ministry of finance in its Annual Debt Review for FY25. Of this, domestic debt stood at PKR 54.5 trillion while external debt was PKR 26.0 trillion, according to news agency PTI. The data showed the debt-to-GDP ratio increased to around 70 per cent in June 2025, up from 68 per cent a year earlier. The report attributed the rise primarily to lower-than-expected nominal GDP growth, with subdued inflation slowing economic expansion despite fiscal consolidation efforts. Domestic debt rose 15 per cent year-on-year—the lowest increase in three fiscal years—while external debt increased by 6 per cent to $91

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