SBP reports increase in remittances for May 2025

KARACHI: The State Bank of Pakistan (SBP) reported a significant rise in remittances during May 2025, with a total inflow of $3.7 billion as compared to April 2025.

According to the central bank, Over the first 11 months of the fiscal year 2024-25 , Pakistan received a cumulative $34.9 billion in remittances. The remittances amount marks a substantial jump from the $27.1 billion recorded in the first 10 months of the previous fiscal year 2023-24.

The SBP also reported a 28.8 percent increase in remittances compared to the corresponding period last year. The central bank said that as compared to April 2025, remittances saw a 16 percent increase, while they grew by 13.7 percent year-on-year from May 2024.

The highest remittances in May 2025 originated from Saudi Arabia, contributing $913.9 million, followed by the United Arab Emirates with $754.2 million, the United Kingdom with $588.1 million, and the United States with $314.7 million.

Earlier, the SBP indicated a record increase in the debt of the federal government in the recently released report, raising serious concerns about the financial stability of the country.

According to the report, on a year-to-year basis, the overall Pakistan government debt has skyrocketed by 12.7%, reaching Rs. 73.69 trillion in March 2025, comparatively higher than Rs. 65.38 trillion in March 2024.

If analyses are seen on a month-on-month basis, 0.9% of debt increased, causing Rs. 652 billion in just one month.

The report additionally indicates a significant rise of 18.6% in domestic debt, surging from Rs 43.43 trillion in March 2024 to Rs 51.52 trillion in March 2025.