Nepal's Outstanding Public Debt Surpasses NPR 28.58 Trillion Mark by Mid-January

Kathmandu. The outstanding government debt has exceeded NPR 28.58 trillion. According to the public debt report published by the Public Debt Management Office up to the end of Magh, the total public debt, which was NPR 26.74 trillion at the beginning of the current fiscal year, increased by NPR 184.93 billion by the end of Magh, reaching a total public debt liability of NPR 28.58 trillion. The office stated that this amounts to 46.81 percent of the Gross Domestic Product (GDP).

Among the debt remaining to be repaid so far, the domestic debt liability stands at NPR 13.49 trillion and the external debt liability is NPR 15.09 trillion. As of the end of Magh, the share of foreign debt in the total public debt was 52.81 percent, while the share of domestic debt was 47.19 percent.

The government has set a target to mobilize NPR 595 billion in public debt during the current fiscal year, of which NPR 255.48 billion has been received by the end of Magh. This total public debt receipt is 42.89 percent compared to the annual target.

This year, the government's target for domestic borrowing was NPR 362 billion, of which 60.13 percent, or NPR 217.66 billion, has been collected, leaving NPR 144.33 billion yet to be received.

Similarly, for external debt, the target was to raise NPR 233.66 billion, of which only 16.18 percent of the annual target, or NPR 37.81 billion, has been received so far, with NPR 195.84 billion remaining to be received.

Furthermore, the government had allocated NPR 411.01 billion this year for the repayment of principal and interest on government debt, of which NPR 203.65 billion has been paid by the end of Magh.

This figure represents 49.55 percent based on the annual budget allocation. The total debt service expenditure as a percentage of GDP as of the end of Magh was 3.33 percent.