Kathmandu. In the first three months of the current fiscal year 2082/83, the government borrowed Rs. 50.60 billion.

According to the Public Debt Management Office, the government debt has increased to Rs 2,724.65 billion as of mid-July from Rs 2,674.04 billion as of mid-July last year. Currently, the outstanding government debt is equivalent to 44.61 percent of the GDP.

The share of foreign debt in the total public debt stood at 53.09 percent or Rs 1,446.58 billion and the share of internal debt was 46.91 percent i.e. Rs 1,278.07 billion as of mid-October 2018.

The government has set a target of mobilizing Rs 595 billion in public debt for the current fiscal year, according to the office. This is equivalent to 16.93 percent of the annual target.

The government has already collected Rs 90 billion or 24.86 per cent of the annual target against the government’s target of Rs 362 billion. Similarly, the government has so far collected only Rs 1.84 billion or 4.65 per cent of the annual target against the target of Rs 233.66 billion.

The government has allocated a budget of Rs 411.1 billion for the current fiscal year to pay the principal and interest on the government loan. Out of this, Rs 109.89 billion has been paid till mid-October. This is 26.74 percent on the basis of annual budget allocation. In terms of GDP, the total credit service expenditure stood at 1.80 percent as of mid-October.