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Rs 92 billion loan added, Nepal’s debt at Rs 1.139 trillion

26 May 2020, Kathmandu

About Rs 92 billion loan has been added to Nepal this fiscal year.

Finance Minister Yubaraj Khatiwada, while presenting the economic survey in the federal parliament, said that Nepal’s debt has increased by Rs 91.90 billion.

With the addition, Nepal’s debt has reached Rs 1.139 trillion. Out of which, internal debt is Rs. 440.05 billion and external debt is Rs. 699.75 billion.

Meanwhile, the government has said that the economic growth in the current fiscal year will remain at 2. 3 percent.

The economic growth rate had remained 7.3 percent on average in the past three years.

Likewise, the per capita GDP for the current F/Y is estimated to increase by 7.5 percent in compared to the previous year to reach 1,085 US dollars.

Sharing that inflation remained below average in the past few years compared to the past decade, Finance Minister Dr. Khatiwada said that the consumer inflation rate stands at 6.5 percent as of mid-March this year. It was 4.3 percent in the same period the previous year.

As a result of the steps taken to prevent and control the coronavirus, the total investment due to limitation in public and private expenditure is expected to decrease by 3.4 percent in compared to the previous F/Y to stand at 1,889 billion 260 million rupees.

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