Spread the love

Kathmandu, 2 September: Nepal’s debt burden has increased by 300 billion rupees in one year. 

According to a recent report published by the Public Debt Management Office, in the previous fiscal year, the total debt of the government crossed 2000 billion rupees, in which foreign debt contributes 1025 billion rupees and domestic debt contributes 986 billion rupees. 

Compared to the previous year, in the fiscal year 2021/22, Nepal’s total debt has increased by 300 billion rupees as in the year 2020/21, the total debt burden was 1737 billion rupees. 

As the size of the debt has increased the share of debt in the GDP has also increased by 41.47 percent, which was 40.72 percent in the previous year. The debt burden on every citizen has reached 69 thousand rupees.

As the country has adopted an expensive political system, the government needs debts to manage increased expenditure on the non-productive sector.

People’s News Monitoring Service