Over Rs 14 billion added in sovereign debt in Saun month of current Fiscal Year

Kathmandu, Aug 27: In the first month of the current fiscal year 2082/83 BS (2024-25), more than 14 billion rupees of government debt has been added, the Public Debt Management Office stated.

According to a report on the status of the public debt as of August 16 published by the Office, the total public debt was Rs 2 trillion 669 billion 570 million at the beginning of the current fiscal year, which increased by Rs 14 billion 20 million by the end of Saun, reaching Rs 2 trillion 683 billion 600 million. The Office said this amount accounts for 43.94 percent of the GDP.

The share of foreign debt in total public debt is 52.26 percent, which is 1 trillion 42 billion 470 million 650 thousand rupees, while the share of domestic debt is 47.74 percent.

The government has set a target to mobilize public debt of Rs 595 billion for the current fiscal year, and by the end of Saun (August 16), the Office has reported that Rs 44 billion 570 million in loans has already been raised.

It is stated that the total public debt received is equivalent to 7.48 percent compared to the annual target.

The target was to raise Rs 362 billion in internal loans, and in the first month, i.e. Saun, 11.05 percent, or Rs 40 billion, has been raised. The office reported that the target was to raise a loan of Rs 233 billion 663 million 100 thousand towards the external loan, but in the month of Saun, 1.96 percent, which is equivalent to Rs 4 billion 574 million 800 thousand, has been raised.

Similarly, in the current fiscal year, a budget provision of Rs 411 billion has been made for the payment of interest on government loans, out of which Rs 36 billion 680 million has already been paid by the end of Saun.

The budget set aside for servicing the public debt and the interest on the same is reported to be 8.93 percent of the annual budget, the Office said. (RSS)