Kathmandu. As of mid-Falgun of the current fiscal year 2081/82, the government’s outstanding debt has reached 2676 billion 300 million. According to the government debt report for the second quarter of the current fiscal year prepared by the Public Debt Management Office, about 250 million government debt has been added in this fiscal year alone.
‘The total public debt at the beginning of the current fiscal year was 2434 billion 900 million, but by mid-Falgun, it had increased by 241 billion 930 million, bringing the total public debt liability to 2676 billion 300 million. Which is 46.91 percent of the gross domestic product,’ the office’s report said. The office has stated that Nepal’s public debt liability has increased by 66.29 billion rupees due to the change in the foreign exchange rate as of mid-Falgun of the current fiscal year.
To date, the share of foreign debt in the total public debt is 50.83 percent, or 1360 billion 460 million rupees, and the share of internal debt is 49.16 percent, or 1315 billion 570 million rupees. The ratio of internal debt to gross domestic product is 23.06 percent and the ratio of external debt is 23.85 percent.
The government had set a target of raising a total public debt of Rs 547 billion for the current fiscal year. Of this, Rs 334 billion 620 million has been received as of mid-Falgun, the office has stated. The public debt collection up to the second quarter is 61.17 percent compared to the annual target.
This year, the target of raising internal debt of Rs 330 billion has been achieved, of which 81.56 percent, or Rs 269 billion 154.2 million, has been achieved so far. The external debt collection up to mid-Falgun is only 30.17 percent. The office’s report states that out of the government’s target of raising a total external debt of Rs 217 billion for the current fiscal year, only Rs 65 billion 47 million has been achieved so far.
This year, the government had allocated a budget of Rs 402 billion 85 million to pay the principal and interest on public debt. Of which, 50.08 percent, or Rs. 201.72 billion, has been repaid by mid-Falgun. Based on the gross domestic product, the total debt service expenditure as of mid-Falgun is 3.54 percent.
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