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Kathmandu, Aug 15: In the fiscal year 2024/25, the government spent a total of Rs 1.508 trillion (1,508.23 billion). In the previous fiscal year 2023/24, total spending stood at Rs 1.408 trillion (1,408.76 billion).

Of the 2024/25 expenditure, recurrent spending was 85.95 percent, amounting to Rs 980.38 billion. Capital expenditure reached 63.2 percent, or Rs 222.68 billion. According to a presentation at the annual ministry-wise progress review and performance agreement exchange program held at the Office of the Prime Minister and Council of Ministers in Singha Durbar, spending on financial management reached 87.87 percent, or Rs 320.04 billion. Compared to the end of 2023/24, recurrent expenditure increased by 2.94 percent in 2024/25.

Capital expenditure grew by 16.15 percent year-on-year. Financial management spending in 2024/25 reached 87.14 percent of the target, while overall expenditure stood at 81.87 percent of the annual goal.

On the revenue side, tax revenue collection reached 81.75 percent of the annual target, and non-tax revenue reached 95.45 percent. Combined, total revenue collection met 83.06 percent of the target. In 2023/24, revenue totaled Rs 1.030 trillion (1,030.34 billion), which rose to Rs 1.178 trillion (1,178.82 billion) in 2024/25, an increase of 14.41 percent.

Data from the Office of the Prime Minister and Council of Ministers shows tax revenue grew by 13.25 percent compared to the previous year, while non-tax revenue rose by 28.8 percent.

In 2024/25, imports were valued at Rs 1.804 trillion (1,804.12 billion) and exports at Rs 277.03 billion, resulting in a trade deficit of Rs 1.527 trillion (1,527.09 billion). Compared to the previous year, imports rose by 13.3 percent and exports jumped by 81.8 percent.