In the first three months of the current fiscal year 2082/83, the Nepalese government has added Rs 50.6 billion to its total debt. According to the Public Debt Management Office, government debt stood at Rs 26.74 trillion as of mid-July and increased to Rs 27.24 trillion by mid-October.
The remaining government debt now accounts for 44.61% of the country’s total GDP. Of the total public debt by mid-October, foreign debt makes up 53.09% or Rs 14.46 trillion, while domestic debt accounts for 46.91% or Rs 12.78 trillion.
The government had aimed to raise Rs 5.95 trillion in public debt for the fiscal year. In the first quarter alone, Rs 1.84 billion has already been borrowed, which is 16.93% of the yearly target.
On the domestic front, the government planned to raise Rs 3.62 trillion. By mid-October, Rs 90 billion had been borrowed, reaching 24.86% of the annual target. For foreign debt, the target was Rs 2.33 trillion, but only Rs 1.84 billion has been raised so far, just 4.65% of the goal.
The government has allocated Rs 4.11 trillion in the budget this year to pay interest on public debt. By mid-October, Rs 1.0989 trillion has already been paid, which is 26.74% of the annual allocation. In terms of GDP, total debt servicing so far accounts for 1.80%.
