Kathmandu – Nepal’s public debt increased by more than Rs 14 billion during the first month of the current fiscal year 2082/83 , according to the Public Debt Management Office.

The report shows that total government debt stood at Rs 2.669 trillion at the beginning of the fiscal year and reached Rs 2.684 trillion by mid-August. This figure accounts for 43.94 percent of the country’s gross domestic product (GDP).

Out of the total debt, 52.26 percent, Rs 1.42 trillion, is external borrowing, while the remaining 47.74 percent, or Rs 1.264 trillion, is domestic borrowing.

The government has set a target of raising Rs 595 billion in debt this fiscal year. By the end of Shrawan , Rs 44.57 billion, 7.48 percent of the annual target, had been raised, which includes Rs 40 billion from domestic loans and Rs 4.57 billion from external loans.

Meanwhile, Rs 36.68 billion has already been spent on interest payments from the Rs 411 billion allocated for debt servicing in the current budget. This amount represents 8.93 percent of total government expenditure.