Friday, April 12, 2019

Per capita debt of Nepalis surges to Rs 31,750

Per capita debt of Nepalis has increased by Rs 7,043 in the fiscal year 2017-18 to Rs 31,750.
According to the Office of Auditor General's report, the debt burden of a Nepali citizen has gone up to Rs 31,750 from Rs 24,707 in the last fiscal year. "The total debt of the government was Rs 915.31 billion till 2017-18, an increase from Rs 217.62 billion."
Of the total debt, the internal debt and the external debt of the government stands at Rs 391.16 billion and Rs 524.15 billion, respectively. However the increasing debt in not as bad as it is claimed to be due to  low spending capacity and return on the debt that could have created employment and helped capital formation.

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