Kathmandu: Nepal’s total public debt has climbed to Rs 2.88 trillion by mid-March of the current fiscal year, according to the latest data released by the Public Debt Management Office.
The figures show that domestic debt stands at around Rs 1.348 trillion, while external debt has reached about Rs 1.53 trillion. Altogether, the government’s debt now amounts to roughly 47.13 percent of the country’s gross domestic product.
At the beginning of the fiscal year, Nepal’s total debt stock was about Rs 2.674 trillion. Over the past eight months, the government’s debt liability has therefore increased by approximately Rs 204 billion.
The government has set a target to mobilize Rs 595 billion in public debt during the current fiscal year. By the end of the Nepali month of Falgun, it had already raised around Rs 295 billion in new borrowing.
During the same period, the government has repaid about Rs 242 billion in principal and interest obligations. For the full fiscal year, the state plans to spend around Rs 411 billion on debt servicing.
Based on Nepal’s population recorded in the 2021 Nepal Census, 29,164,578 people, the country’s public debt translates to nearly Rs 100,000 per citizen. On average, each Nepali now carries a debt burden of about Rs 98,691.
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