Published On: May 29, 2022 03:50 PM NPT By: Republica | @RepublicaNepal
KATHMANDU, May 29: The government’s public debt has reached Rs 1.848 trillion as of mid-March this year, with the government relying more and more on borrowing to meet its financial liabilities due to low revenue collection amid soaring expenditure.
According to the Economic Survey 2021/22 unveiled by the government on Saturday, the government took a total borrowing of Rs 89.50 billion during eight months starting from mid-July 2021. Until last fiscal year, the total public debt was Rs 1.737 trillion.
Of the total amount of the debt, internal borrowing stood at Rs 863.19 billion while the remaining Rs 984.99 billion was foreign loan. Based on the country’s total population of over 29.19 million people, according to the Population Census 2021, the overhead debt has reached Rs 63,310 per person.
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