• Download the Constitution of Pakistan
  • Advertise
WRITE FOR US
Economy.pk
No Result
View All Result
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
  • Videos
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
  • Videos
No Result
View All Result
Economy.pk
No Result
View All Result
Home Business

Jul-Mar 2022-23: Govt borrowing declines 39.18pc to $7.76bn YoY

by Irsa
April 20, 2023
in Business, Main
Reading Time: 3 mins read
Jul-Mar 2022-23: Govt borrowing declines 39.18pc to $7.76bn YoY
Share on FacebookShare on Twitter

During the first nine months (July-March) of 2022-23, the government borrowed $7.764 billion from various funding sources, including $900 million from foreign commercial banks, a 39.18 percent decrease from the previous fiscal year’s borrowing of $12.767 billion.

According to Economic Affairs Division data, the country did not receive foreign assistance from China for the sixth straight month in March, and $54.93 million was received during the first quarter, compared to the $49.02 million projected by the government for the current fiscal year.

The country borrowed $900 million from foreign commercial banks during the first nine months of the current fiscal year 2022-23 including $700 million in February.

External sources: Jul-Nov govt borrowing rises to $5.114bn from $4.699bn YoY

However, no loans were obtained from international commercial banks during the month of March 2023. According to Economic Affairs Division data, the country received $2.623 billion from foreign commercial banks during the same period last year.

During the first nine months (July-March) of 2022-23, the country got $1.166 billion from the International Monetary Fund (IMF). In contrast to previous practices, the EAD has also included IMF loans. If the IMF loan is eliminated, the country got $6.598 billion in the first nine months of the current fiscal year, compared to $12.767 billion at the same time in the previous fiscal year, showing a drop in inflows.

In March 2023, the government obtained external loans totaling $358.71 billion. The government got $612.30 million under the heading “Naya Pakistan Certificate” for the first nine months of the current fiscal year, including $73.88 million in March 2023.

For the current fiscal year, the government has planned $22.817 billion in foreign aid, including $7.5 billion from international commercial banks.

During the period July-March 2022-23, the government received $4.021 billion from multilateral, $1.064 billion from bilaterals, and $1.166 billion from the IMF. Non-project aid totaled $6.331 billion, with $5.272 billion for budgetary support, and project aid totaled $1.432 billion.

The Asian Development Bank (ADB) disbursed $1.940 billion during the review period, compared to the $3.202 billion budgeted for the entire fiscal year. In March 2023, ADB disbursed $12.46 million.

China disbursed $54.93 million in the first quarter, compared to the $49.02 million projected by the government for the current fiscal year; however, no money was received in October, November, December, January, February, or March.

During the first eight months, Saudi Arabia disbursed $782.28 million against the projected $800 million under the head of the oil facility; however, no money was disbursed in March.

The USA spent $24.27 million during the review period, compared to the $32.49 million budgeted for the current fiscal year. During the first nine months of the current fiscal year, Korea spent $21.31 million while France spent $29.87 million.

The IDA spent $1.102 billion versus the budgeted $1.4 billion in the first nine months, including $83.87 million in March, the IBRD spent $146.99 million versus the scheduled $1.246 billion, and the Islamic Development Bank spent $16.81 million versus the budgeted $3.38 million for the current fiscal year. In the current fiscal year, the IsDB (Short-term) disbursed $161 million. So far in the current fiscal year, AIIB has disbursed $546.75 million, while ECO (Trade Bank) has disbursed $54.12 million.

Tags: ChinaDollarsEconomic Affairs Division datalatest
Irsa

Irsa

Related Posts

Kazakhstan Airlines prepares to land first direct flight in Lahore

Kazakhstan Airlines prepares to land first direct flight in Lahore

Kazakhstan's SCAT Air Company will launch its first flight from Almaty to Lahore on July 8, 2023. The announcement was...

Budget 2023-24 is growth-oriented, says Ishaq Dar

Budget 2023-24 is growth-oriented, says Ishaq Dar

Federal Minister of Finance and Revenue Ishaq Dar defined the FY2023-24 budget differently from previous traditional budgets, underlining its emphasis...

Sindh to present FY24 budget today

Sindh to present FY24 budget today

On June 10, the provincial authorities of the country's southeastern region will present the budget for the following fiscal year...

Pakistan working with friendly countries to restructure loans: Ishaq Dar

Pakistan working with friendly countries to restructure loans: Ishaq Dar

Finance Minister Ishaq Dar stated that the coalition government is in talks with friendly countries to restructure loans as the...

Cyclone Biparjoy at 910KM south of Karachi, to intensify further

Cyclone Biparjoy at 910KM south of Karachi, to intensify further

The very strong cyclonic storm Biparjoy, which was over the east-central Arabian Sea for the past six hours, traveled approximately...

Budget 2023–24: Huge Tax Relief for Hybrid Vehicles

Budget 2023–24: Huge Tax Relief for Hybrid Vehicles

The fiscal budget for 2023-24 has finally been released, which is great news for Pakistan's hybrid automotive sector. According to...

Next Post
PM Shehbaz calls for fast-track implementation of solarisation project

PM Shehbaz calls for fast-track implementation of solarisation project

Recent Posts

  • Kazakhstan Airlines prepares to land first direct flight in Lahore
  • Budget 2023-24 is growth-oriented, says Ishaq Dar
  • Twitter to start paying verified content creators in few weeks
  • Court stops police from arresting Shah Mehmood Qureshi
  • Sindh to present FY24 budget today

Advertisement

Twitter

Economy.pk

Economy.pk is a source of economic, political, business, finance, health and sports updates.

Categories

  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
  • Videos

Privacy & Legal

  • Privacy Policy
  • Cookies

Social Media

  • Facebook
  • Instagram
  • Twitter
  • Linkedin
  • About
  • Advertise
  • Contact

© 2023 Economy.pk

No Result
View All Result
  • VIDEOS
  • World
    • Europe
    • Americas
    • Asia
    • Oceania
    • Africa
    • Middle East
  • Finance
  • Politics
  • Business
    • Economy
    • Finance
    • Entrepreneurship
    • Real Estate
  • Technology
    • Cyber Security
    • Mobiles
    • Social Media
  • Education
  • Sports
  • Life & Style
    • Personalities
    • Art
    • Culture
    • History
    • Entertainment
    • Fashion
    • Food
    • Health
      • Environment
      • Fitness
  • Sponsored

© 2023 Economy.pk