Budget deficit surges to Rs 137.75 billion in first eight months of current FY
KATHMANDU, March 15 -- Amid slow revenue collection, 17.24 percent of public expenditure was exhausted for debt service
Nepal faced a budget deficit of Rs 137.75 billion in the first eight months of the current fiscal year due to a surge in financial liability on debt service of the government.
The records with the Financial Comptroller General Office (FCGO) show that the government spent Rs 801.58 billion during mid-July 2023 and mid-March 2024. On the other hand, the government generated total receipts of only Rs 663.83 billion over the period.
Mainly since the commencement of the fiscal year 2023/24, with a shortfall in revenue collection, the government has been heavily relying on domestic borrowing to manage its financial liabilit...
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