July 21: Nepal's public debt has reached Rs 2434 billion according to the Public Debt Management Office (PDMO). As of mid-July of the last fiscal year (FY), this debt represented 42.65 percent of Nepal's gross domestic product (GDP).

The debt is divided into Rs 1180 billion in domestic debt and Rs 1253 billion in foreign debt. In the last fiscal year alone, the government raised Rs 358 billion in public debt, with Rs 234 billion coming from domestic sources and Rs 123 billion from external sources.

 The PDMO data shows that the government has repaid Rs 223.34 billion of these loans, including Rs 182 billion in domestic debt and Rs 40.72 billion in external debt.

By mid-July of the previous fiscal year 2023/24, Nepal's outstanding public debt stood at Rs 2299 billion. This indicates an increase of Rs 134 billion in the last fiscal year.

The government had aimed to mobilize Rs 452 billion in public debt for the last fiscal year but only managed to collect Rs 358 billion, which is 79 percent of the target.

The PDMO reported that 97.68 percent of the targeted domestic loans were secured, while only 58.10 percent of the targeted external loans were received.

Throughout the last fiscal year, the government paid Rs 223.34 billion in public debt repayments and Rs 82 billion in interest payments.