KATHMANDU: Nepal's outstanding public debt has reached almost Rs 2,400 billion, marking a rise of Rs 98 billion in the last 10 months of the current fiscal year alone, according to the Public Debt Management Office (PDMO).

At the beginning of the current fiscal year, the country’s public debt stood at Rs 2,299 billion. The PDMO reported that public debt now accounts for 42.02 percent of the gross domestic product (GDP).

In the last month, the country’s public debt increased by Rs 11.64 billion.

Of the total debt, internal debt accounts for 20.76 percent of the GDP, while foreign debt constitutes 21.26 percent.

The report updated by the PDMO mentions that the government collected a total of Rs 264.63 billion in loans until mid-May, while it was able to pay off Rs 166.55 billion in principal during the review period.

Similarly, of the total loan raised by the government, internal loans amounted to Rs 191 billion, while foreign loans accounted for Rs 73.63 billion.