NEW YORK: Citing the financial bill for FY 2025, announced a couple of day ago, Moody’s stated on Friday (14th June, 2024) that the budget estimated debt servicing payments to have increased by 18% compared to the previous year.
“The government spends more than half its revenue on interest payments, indicating very weak debt affordability which drives high debt sustainability risks…about 55pc of fiscal year 2025 revenue (Rs9.8 trillion) is earmarked for interest payments on the government’s debt” noted the global rating agency pointing towards lack of significant cost-containment measures.
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