New Year New Record, the government issued an average of Rs 12.79 billion in new notes every day during the first two weeks of the new year. On average, more than Rs 8 billion was borrowed from banks on a daily basis in 14 days.
According to the SBP, in the first fourteen days of January 2021, the government issued a total of new notes worth Rs 177.69 billion, an increase of 33.5 percent over the same period last year.
During the first two weeks of 2020 133 billion 13 crore rupees, new notes were issued, the total value of the circulating notes in the meantime due to the issuance of new notes 177 billion 76 crore rupees increase of 6 thousand 721 million 56 million 70 million rupees reached while budget spending over two weeks to complete the overall banking sector to 113 billion 64 million to 40 million rupees for the new loan.
Expenditures outpaced revenues at the start of the new year, prompting the government to borrow to cover expenses as well as speed up the printing of notes.
Extracted from City42 News
