Nepal records 4.61 pc economic growth in last FY 2024/25

KATHMANDU: Nepal’s economic growth rate for the last fiscal year (2024/25) was recorded at 4.61%, with the size of the economy equivalent to Rs 6,107.22 billion.

According to the annual report for last fiscal year, published by the Ministry of Finance (MoF) on Tuesday, a total budget of Rs 1,860.3 billion was allocated, of which Rs 1,512.98 billion (81.33%) was spent.

Of Rs 1,140.67 billion allocated for recurrent expenditure, Rs 956.36 billion (83.84%) was spent. For capital expenditure, Rs 223.94 billion (63.56%) was disbursed out of the Rs 352.35 billion allocation. The report states that Rs 332.67 billion (90.58%) of Rs 367.28 billion earmarked for fiscal management was utilised.

Revenue collection in last fiscal year totalled Rs 1,196.18 billion. The MoF said this comprised Rs 1,049.87 billion in tax revenue, Rs 128.94 billion in non-tax revenue and Rs 17,369.6 million in other receipts. The total represented 84.28% of the Rs 1,419.3 billion collection target set in the budget.

Foreign aid receipts amounted to Rs 148.93 billion, of which Rs 23.53 billion were grants and Rs 125.4 billion were loans. Grants accounted for 15.80% of the total, with loans making up 84.20%.

To meet the budget deficit, the government mobilised public debt totalling Rs 455.39 billion, comprising Rs 329.99 billion in domestic debt and Rs 125.4 billion in external debt.