First Business News Portal in English from Nepal
KATHMANDU: Nepal’s public debt has reached 40.5 percent of the country’s gross domestic product (GDP), as per Nepal Rastra Bank (NRB).
This showed that the government is heavily relying on borrowed money to meet its financial obligations.
As per NRB, the government as of last fiscal year end took loans of Rs 1.72 trillion, out of which Rs 927.92 billion was the foreign debt. The share of foreign loans in the total debt stood at 21.8 percent. Similarly, the government took loans of over Rs 301 billion in 2020/21 alone.
Based on an estimated 30 million population, the country’s per capita debt has now reached Rs 57,608.
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