The Public Debt Management Office's report for the month of Magh states that public debt in Nepal has reached Rs 2858.97 billion.
What you should know
Public debt has increased by about 2.5 trillion rupees in the first seven months of the current fiscal year. This is the public debt that has increased from last Shrawan to Magh.
The Public Debt Management Office's Magh report states that public debt in Nepal has reached 2858 billion 970 million rupees. This is 184 billion 930 million rupees more than the public debt of last Ashar. The outstanding government debt in last Ashar was 2674 billion 400 million rupees.
The total government debt outstanding by the government as of Magh is equivalent to 46.81 percent of the gross domestic product (GDP). The National Statistics Office has projected that GDP will reach 6107 billion rupees in the current fiscal year.
The total public debt is 47.19 percent domestic or 1349 billion rupees and 52.81 percent foreign or 1509 billion rupees.
In the last seven months, the government has collected 255 billion 480 million rupees in debt. This is 42.89 percent of the annual target. Of which, domestic debt is 60.13 percent and foreign debt is 16.18 percent. Of the total public debt collected in this way, domestic debt is 85.20 percent and foreign debt is 14.80 percent. Based on this, to achieve the total debt collection target set for this year, Rs 340 billion 170 million should be raised. Of which domestic debt is Rs 144 billion 330 million and foreign debt is Rs 195 billion 840 million.
Till last Magh, the government has spent Rs 23 billion 650 million on principal and interest payments on loans. This is 49.55 percent of the annual target. This year, the government has allocated Rs 411 billion 100 million for principal and interest payments on loans. Of the total amount paid by the government till last Magh, Rs 163 billion 520 million has been spent on principal and the remaining Rs 40 billion 130 million has been spent on interest.
