The government owes public debt over Rs 2.221 trillion.
As per the data unveiled by the Public Debt Management Office, till the end of the fiscal year 2022/23, Nepal owes internal loan equivalent to over Rs 1,100 billion and external loan worth Rs 1093 billion.
Last fiscal year alone the size of public debt increased by over Rs 200 billion. The size of public debt till the end of previous year was 2012 billion. But last fiscal year, the internal debt went up by RS 140 billion and the external loan soared by Rs 675 billion, according to the Office.
Principal and interest liability close to capital expenditure itself
In the last fiscal year 2022-23, the ca[ital expenditure of Nepal was equivalent to Rs 233 billion and 690 million. The payment made by the government last year for the principal and interest of the public debt is close to the development expenditure.
Last year, the government spent Rs 222 billion 742 million and 100 thousand for paying the principal and interest for the public debt. Of this amount, Rs 179 billion 725 million and 300 thousand was paid for servicing the principal and interest of the internal loans while Rs 43 billion 16 million and 800 thousand was spent on servicing the principal and interest on external loans.
