Nepal’s Sovereign Debt Increases by Rs 94.52 Billion in First Two Months of Fiscal Year

Nepal’s sovereign debt grew by Rs 94.52 billion in the first two months of the current fiscal year, bringing the total to Rs 2,528.62 billion. This marks an increase from Rs 2,434.9 billion at the end of the last fiscal year, according to the Public Debt Management Office.

The country’s total debt now equals 44.32% of its Gross Domestic Product (GDP).

Internally, Nepal’s debt has risen to Rs 1,235.9 billion, up from Rs 1,180.9 billion last year, representing 21.66% of the GDP. In the first two months, the government borrowed Rs 90 billion internally, while repaying Rs 35 billion.

Externally, Nepal’s debt has climbed to Rs 1,292.71 billion, up from Rs 1,253.19 billion last fiscal year, accounting for 22.66% of GDP.

Public Debt Management Office Under Secretary Prakash Pudasaini confirmed that the government has already raised Rs 104.5 billion in public debt, against an annual target of Rs 547 billion for this fiscal year.