Another worrisome factor is the increasing debt burden, which the Bank says will peak at a record 94 percent of GDP this fiscal. The Bank has also noted that the government has not fulfilled its promises of cutting public debt and doubling revenue. In its annual South Economic Focus report, the World Bank noted that the government had not achieved either, despite changing five FBR Chairmen, and three Finance Ministers. The debt situation seems most horrifying, with public debt 72.5 percent of GDP when the PTI came to power, projected to hit 94.4 percent next fiscal year. There is also the problem of inflation, which the World Bank does not see going away.

Source: Pakistan Today March 31, 2021 18:33 UTC