KATHMANDU: Economic Digest offers a concise yet comprehensive overview of significant business happenings in Nepal, presented in easily digestible summaries.
In the past fiscal year, Nepal’s public debt increased by Rs 358 billion, reaching Rs 2.433 trillion by the end of 2080–81, up from Rs 2.075 trillion the previous year.
This rise includes Rs 134.6841 billion accrued between Shrawan and Ashad, and a monthly increase of Rs 32.8958 billion in Jestha alone.
Despite concerns from economists about debt levels exceeding 40% of GDP, government officials maintain that the current 42.65% is manageable.
Meanwhile, Chitwan National Park experienced a surge in tourist arrivals, welcoming 306,837 visitors in 2080/081 and generating Rs 305.7 million in eco-tourism revenue.
Additionally, Birgunj Metropolitan Municipality collected a record Rs 614.7 million in revenue, surpassing expectations despite economic challenges.
In agricultural news, farmer Kalpana Gauli earned Rs 1.6 million from dragon fruit sales, cultivating 2,100 plants on leased land in Byas Municipality-5.
Nepal adds Rs 358 billion in debt over one year
In the fiscal year 2079–80, Nepal’s public debt was Rs 2.299 trillion, increasing to Rs 2.433 trillion by the end of 2080–81, a rise of Rs 134.6841 billion in one year. According to the Public Debt Management Office, the debt grew by Rs 32.8958 billion from the previous month of Jestha alone.
Between Shrawan and Ashad of the last fiscal year, an additional Rs 134 billion was accrued, bringing the total debt to Rs 2.433 trillion.
Currently, Nepal’s debt stands at 42.65% of its GDP, amounting to Rs 5.7 trillion.
Government officials argue that debt levels up to 43% of GDP are manageable, while economists caution that surpassing 40% signals potential economic risks for Nepal.
Revenue hits record high as tourist arrivals surge at CNP
Tourist arrivals at Chitwan National Park rose in the last fiscal year.
In 2080/081, the park welcomed 306,837 visitors, up from 299,412 in 2079/080—an increase of 7,425 visitors.
Domestic visitors numbered 176,316 compared to 205,605 the previous year. International visitors from countries outside SAARC jumped from 55,872 to over 94,000.
The park’s revenue from eco-tourism also saw a significant rise, reaching Rs 305.7 million compared to Rs 229.3 million the year before.
Birgunj Metropolis collects Rs 614.7 million in record revenue
Birgunj Metropolitan Municipality has collected Rs 614.7 million and 17 thousand 131 in revenue in the last financial year.
Municipal Corporation Revenue Division Chief Manoj Karna said that while revising the budget last December, he had set a target of collecting revenue of 900 million, but collected 61.47 million revenue during that period.
“Even when the taxpayers are suffering due to the economic recession, it seems that the revenue collection should be considered positive”, he said.
Foreign currency exchange rates
The Nepal Rastra Bank has announced that today’s exchange rates for foreign currencies, including the US Dollar, Euro, Pound, Australian Dollar, Kuwaiti Dinar, and Bahrain Dinar, remain unchanged from the previous day, indicating stability in the currency market.
The US Dollar leads with a buying rate of 133.57 NPR and a selling rate of 134.17 NPR, reflecting its highest valuation among the listed currencies.
This stability suggests a reassuring economic environment for businesses and investors, ensuring predictability in international transactions and trade activities involving these currencies.
Farmer earns Rs 1.6 million from dragon fruit sales
Kalpana Gauli, a farmer from Byas Municipality-5, earned Rs 1.6 million in one year from selling dragon fruit. She cultivated 2,100 plants on nine ropanis of leased land.
Her family is actively involved in harvesting and selling dragon fruits from Asar to Mangsir months. They established ‘Ma Ambe Alaukik Agriculture Farm’ in 2079 BS, importing saplings from Hyderabad, India.
The land lease is for 20 years at Rs 20,000 per month. This year, they anticipate sales of dragon fruits worth two million rupees, with harvesting occurring over six months starting from Asar.
(Compiled and prepared by Srija Khanal)
Economic Digest is a daily morning economic digest, basically relatable summations of the most important business news, and happenings from Nepal into easy-to-understand summaries.
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