KATHMANDU: The former KP Sharma Oli-led government, a coalition including the UML and Nepali Congress, added nearly Rs 70 billion to Nepal’s public debt in the first two months of the current fiscal year.
According to the Public Debt Management Office (PDMO), the government increased state borrowing by Rs 69.32 billion during Shrawan and Bhadra. Public debt stood at Rs 2.674 trillion as of Shrawan 1 but rose to Rs 2.743 trillion by the end of Bhadra. Of this, domestic debt accounted for Rs 1.268 trillion, while external debt reached Rs 1.405 trillion.
The PDMO noted that although the government had planned to mobilize Rs 595 billion in public debt for the current fiscal year, it received Rs 7.915 billion in just the first two months. During this period, Rs 6.507 billion was spent on interest payments for existing debt.
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