Every Pakistani now carries a public debt burden of approximately Rs333,000 — a figure that is rising by the minute and threatens to eclipse total GDP in a few years if corrective measures are not taken soon. Total debt is now Rs80.5 trillion, or nearly 71% of GDP, largely due to continued deficit spending and lacklustre growth. It is also important to remember that deficit spending itself is not a problem if the economy is growing, because a booming economy with small budget deficits will actually lead to a decline in the........

© The Express Tribune