Nepal's sovereign debt rises by Rs 94.5bn in 2 months of current FY
KATHMANDU: Nepal's sovereign debt increased by Rs 94.52 billion in the first two months of the fiscal year 2024/25.
According to the Public Debt Management Office, the country's sovereign debt rose from Rs 2,434.9 billion at the end of the last fiscal year to Rs 2,528.62 billion. This debt now equals 44.32% of the gross domestic product (GDP).
Similarly, Nepal's internal debt has grown from Rs 1,180.9 billion last fiscal year to Rs 1,235.9 billion, representing 21.66% of GDP.
In the first two months of the current fiscal year, the government collected Rs 90 billion in internal debt while repaying Rs 35 billion.
The external debt to be repaid by the government reached Rs 1,292.71 billion in the first two months of the fiscal year, up from Rs 1,253.19 billion at the end of the last fiscal year. This external debt is 22.66% of GDP.
Under Secretary at the Public Debt Management Office, Prakash Pudasaini, stated that the government has already raised Rs 104.5 billion in public debt against the annual target of Rs 547 billion for the current fiscal year.
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