Pakistan borrows USD 14.3 billion foreign loans in FY21 ...Middle East

Pakistan Ministry of Economic Affairs reported on Monday that the government received USD 14.283 billion foreign loans during the fiscal year 2020-21, compared to USD 10.66 billion in 2019-20, showing an increase of 34 per cent. Despite healthy remittances and higher exports, Pakistan's total foreign loans surpassed by 17 per cent the target of USD 12.233 billion set in the budget 2020-21, indicating higher foreign exchange needs to finance imports and earlier loans, reported Dawn.

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