ISLAMABAD - Government debt-to-GDP ratio witnessed an increase of 1.4 percent to reach 61.6 percent in 2017 from 60.2 percent in 2013, the ministry of finance said on Monday.

“The total public debt-to-GDP ratio was recorded at 67.2 percent while total government debt-to-GDP ratio stood at 61.6 percent at end of June 2017. Pakistan witnessed a marginal increase of 1.4 percent (from 60.2 percent in 2013 to 61.6 percent in 2017) in its total government debt-to-GDP ratio during last four years while during the same period global debt-to-GDP ratio increased by about 8 percent,” stated a spokesman of the ministry of finance in a statement.

Furthermore, developed countries like USA, UK and Japan also carry debt and maintain levels as high as 80 to over 100 percent of their GDPs, well over Pakistan debt-to-GDP levels. Even in the developing country peer group, Egypt, Sri Lanka and India carry higher debt to GDP levels than Pakistan.