KATHMANDU: Nepal’s total public debt liability has reached nearly Rs 3 trillion by the end of Baisakh (mid-May) in the current fiscal year 2082/83, according to the latest monthly report published by the Public Debt Management Office.
The report states that the country’s total public debt stood at Rs 2.975 trillion by mid-May, equivalent to 45.08 percent of Nepal’s gross domestic product (GDP).
At the beginning of the current fiscal year, Nepal’s total public debt was Rs 2.674 trillion. During the review period, the debt increased by an additional Rs 399 billion, including losses caused by exchange rate fluctuations.
Of the total outstanding debt, foreign debt accounts for 53.57 percent, amounting to Rs 1.593 trillion, while domestic debt represents 46.43 percent, totaling Rs 1.381 trillion.
Only 61 percent of annual debt target achieved
The government had set a target of mobilizing Rs 595.66 billion in public debt during the current fiscal year. However, by mid-May, only Rs 365.16 billion had been raised, achieving just 61.30 percent of the annual target.
The report shows relatively strong progress in domestic borrowing, while foreign borrowing has remained significantly below target.
According to the Public Debt Management Office, the government achieved 82.50 percent of its domestic debt target, mobilizing Rs 298.66 billion. In contrast, only 28.46 percent of the foreign debt target was achieved, with total foreign borrowing reaching Rs 66.49 billion during the review period.
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