Aug 11, 2019

Rs. 2.2 trillion needed to pay off 2019 loans! Featured

It has been estimated a total sum of Rs. 2.2 trillion is required to pay off loan installments and interest for this year.

A total of Rs. 1.37 trillion and Rs. 0.9 trillion is needed as loan installments and interest amounts respectively.

In 2018, the government spent Rs. 2.08 trillion to pay off loans despite the state income only being Rs. 1.9 trillion.

Also, economists forecast that the economic growth rate would be just 03 pc or less due to the Easter Sunday attacks and the political climate running upto elections.

If so, this could be a staggering blow on the state income, leading to a debt crisis, they warn.