Compared to the financial year(FY) 2014-15, the country’s public debt increased by over Nu 39B in the 2015-16 FY.
This was brought to the attention by the finance minister Namgay Dorji during the presentation of national budget report for 2017-18 fiscal year in the National Assembly, on Monday.
The increased in public debt was attributed to loan repayment of the ongoing hydropower projects and SAARC currency exchange arrangement availed by the Royal Monetary Authority.
The overall total public debt stood at over Nu 160B as of June 30, 2016. Of that, domestic debt was over Nu 4B and the external debt was over Nu 155B.
Domestic debt included loan availed from Bank of Bhutan and National Pension and Provident Fund for the construction of staff quarters in Phuentshogling hospital.
Under the external debt, the hydropower debt constituted 73 percent of the debt and the outstanding Rupee loan from the Government of India amounted to about little more than Rs 115 B.