Government Debt Burden Increases, Nearly Reaches 2.4 Trillion Rupees

The impact of the economic recession is becoming evident in all sectors of the country. The primary cause of this recession is the significantly higher imports compared to exports, leading to an increased debt burden on the government. Currently, the government has approximately 2.4 trillion rupees in debt.

According to the Public Debt Management Office, at the beginning of the current fiscal year, the government had 2.299 trillion rupees in debt. However, within 10 months, this debt increased by 98.08 billion rupees. This figure represents the difference between the loans taken and the repayments made by the government during the current fiscal year. As of now, the country's total debt has reached 2.397 trillion rupees.

Compared to the month of Chaitra, an additional 11.64 billion rupees in debt was added in Baisakh alone. Based on the total Gross Domestic Product (GDP) of the country, public debt has reached 42.2%. The increasing debt burden poses a significant challenge to the economy.

Currently, the country has 1.18448 trillion rupees in domestic debt and 1.21295 trillion rupees in foreign debt. During this period, the government has already repaid 166.55 billion rupees in loans. This includes 135.62 billion rupees in domestic debt and 73.63 billion rupees in foreign debt.

The government had set a target of mobilizing a total of 452 billion rupees in public debt for the current fiscal year. However, by the end of Baisakh, only 264 billion rupees had been received, according to the Public Debt Management Office.

In this situation, it is essential for the government and relevant authorities to formulate appropriate policies to bring economic stability to the country. Measures such as increasing production, promoting exports, and reducing imports need to be adopted to address this economic recession. Additionally, implementing frugality in government spending is crucial. Only by doing so can the country be saved from the burden of debt and move towards economic stability.