Nepal’s public debt soars to Rs 2.4 trillion, marking Rs 98 bn surge in 10 months

Kathmandu: The country’s outstanding public debt has reached nearly Rs 2.4 trillion. The public debt witnessed a rise of Rs 98 billion in the last 10 months of the current fiscal year alone, according to the Public Debt Management Office (PDMO).

In the beginning of the current Fiscal Year, the public debt stood at Rs 2.299 trillion, the Office said, adding that the public debt accounts for 42.02 percent of gross domestic product (GDP).

Last month witnessed a Rs 11.64 billion rise in the public debt. Of the total debt, internal debt accounts for 20.76 percent of the GDP, while foreign debt makes up 21.26 percent.

The report updated by the PDMO mentioned that the government collected a total of Rs 264. 63 billion loan till the end of Baisakh, while it was able to pay off Rs 166.55 billion principal in the same period.

Similarly, of the total loan recovery, internal loan makes up Rs 191 billion while the foreign loan accounts for Rs 73.63 billion.

News Source: Rashtriya Samachar Samiti