Nepal’s public debt is worth over Rs 2.22 trillion: PDMO

KATHMANDU: The government owed a public debt of over Rs 2.22 trillion till the end of the fiscal year 2022/23. According to data unveiled by the Public Debt Management Office (PDMO), the government owed an internal loan equivalent to over Rs 1.1 trillion and an external loan worth Rs 1.09 trillion. In the previous fiscal year alone the size of public debt increased by over Rs 200 billion. The size of public debt till the end of the previous fiscal year was over Rs 2.01 trillion. In the last fiscal year 2022/23, the internal debt went up by Rs 140 billion and the external loan soared by Rs 675 billion, according to PDMO. Principal and interest liability close to capital expenditure In the previous fiscal year 2022/23, the capital expenditure of the country was equivalent to Rs 233.69 billion. The payment made by the government last year for the principal and interest of the public debt is close to the development expenditure. In the fiscal year 2022/23, the government spent over Rs 222.74 billion for paying the principal and interest for the public debt. Of this amount, more than Rs 179.72 billion was paid for servicing the principal and interest of the internal loans and over Rs 43.16 billion for principal and interest on external loans. By RSS READ ALSO:

• In India, G20 finance chiefs set to address global challenges like climate change, rising debt
• NA passes Finance Bill, Bill to Raise National Debt
• Finance Bill, Bill to Raise National Debt tabled in National Assembly