The changes in exchange rates resulted in the reduction of Nepal’s public debt by Rs 5.58 billion by the end of the first quarter of this fiscal year, in comparison to that a month ago, a report of the Public Debt Management Office (PDMO) shows.
Nepal’s public debt increased by Rs 88.93 billion in the first quarter of the current fiscal year to Rs 2,523.03 billion. Of the total, the internal and external debt amounted to Rs 1,236.3 billion and Rs 1,286.73 billion, respectively.
It had grown by Rs 94.52 billion between mid-July and mid-September, the first two months of the current fiscal year, to reach Rs 2,528.62 billion.
The latest report of the Public Debt Management Office (PDMO) shows that the total debt is 44.23 percent of the country’s gross domestic product (GDP).
The total debt was Rs 2,434.09 billion by the end of the last fiscal year in mid-July 2024,
The government aims to collect Rs 547 billion in public debt this fiscal year. The report said it has already collected Rs 136.32 billion, or nearly 25 percent of the target, in the first quarter.
Similarly, the report said the government spent Rs 83.07 billion on debt servicing in the first quarter, which is 20.62 percent of this year’s budget allocated for the purpose, or 1. 46 percent of the GDP.
The report is based on the yearly data published by the National Statistics Office earlier this year on April 30.