Public debt jumps to around Rs 2.4 trillion

KATHMANDU, MAY 26: 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).

At 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 the gross domestic product (GDP).

Last month saw an increase of Rs 11.64 billion in 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 in loans till the end of Baisakh, while it was able to pay off Rs 166.55 billion in principal during the same period.

Similarly, in terms of total loan recovery, internal loans make up Rs 191 billion, while foreign loans account for Rs 73.63 billion.