Nepal’s total public debt has exceeded Rs 2,536 billion by mid-January of the current fiscal year, according to the Public Debt Management Office. This figure represents 44.46 per cent of the country’s Gross Domestic Product (GDP). Over the past six months, the public debt has increased by Rs 102 billion.
At the start of the fiscal year on July 16, Nepal’s public debt stood at Rs 2,434 billion 90 million. By January 15, it had grown by Rs 102 billion 30 million, reaching a total of Rs 2,536 billion 130 million.
Foreign debt constitutes 51.31 per cent of the total public debt, amounting to Rs 1,301 billion 410 million, which is 22.81 per cent of the GDP. Meanwhile, domestic debt accounts for 48.68 per cent, totaling Rs 1,234 billion 714 million, or 21.64 per cent of GDP.
The government had set a target to raise Rs 547 billion in public debt for the current fiscal year (2082-83 BS). By mid-January, it had achieved Rs 240 billion 80 million, representing 43.89 per cent of the annual goal.
Breaking down the figures, the government aimed to raise Rs 330 billion in internal debt, of which Rs 181 billion 50 million, or 54.86 per cent, has been raised. Similarly, for external loans, the target was Rs 217 billion, with Rs 59 billion 30 million, or 27.20 per cent, secured so far.
For the reimbursement of public debt principal and interest, the government allocated a budget of Rs 402 billion 850 million for the fiscal year. As of mid-January, Rs 182 billion 400 million has been paid, which accounts for 3.20 per cent of the total GDP.