Govt borrowed over $2 billion in foreign loans in July

The last coalition government borrowed over $2 billion in foreign loans in the very first month of the current financial year (FY) July 2023, reported 24NewsHD TV channel on Tuesday.

According to a report, Pakistan borrowed over $19 million multilateral loan in July, while over $11 million bilateral loan during the month under review.

The country also received time deposit of $2 billion from Saudi Arabia.  

Similarly, the country received $10 million from Saudi Arabia under the head of oil.

The report informs that the government has estimated to borrow over $17 billion in foreign loans during the ongoing FY.  

Reporter: Waqas Azeem