Nepal’s budget allocations to repay foreign, domestic loans tripled in five years

Nepal’s budget allocations to repay foreign, domestic loans tripled in five years

Prithvi Man Shrestha is a political reporter for The Kathmandu Post, covering the governance-related issues including corruption and irregularities in the government machinery. Before joining The Kathmandu Post in 2009, he worked at nepalnews.com and Rising Nepal primarily covering the issues of political and economic affairs for three years.

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Canada Budgetary Deficit of $12.7 Billion in June 2021 About A Third of That A Year Earlier

There was a budgetary deficit of $12.7 billion in June 2021, compared to a deficit of $33.6 billion in June 2020, the Department of Finance said Friday.

It added the budgetary deficit before net actuarial losses was $11.4 billion, compared to a deficit of $32.7 billion in the same period of 2020-21. The budgetary balance before net actuarial losses is intended to supplement the traditional budgetary balance and improve the transparency of the government’s financial reporting by isolating the impact of the amortization of net actuarial losses arising from the revaluation of the government’s pension and other employee future benefit plans.

As expected, Friday’s statement said, the government’s 2021-22 financial results show a “marked improvement” compared to the peak of the COVID-19 crisis reached in early 2020-21, and the unprecedented level of temporary COVID-19 response

measures at the time. But, it added, they continue to reflect challenging economic conditions, including the impact of continuing restrictions, and the remaining temporary COVID-19 Economic Response Plan supports in 2021-22.

Compared to June 2020: revenues increased by $9.7 billion, or 48.8%, on a year-over-year basis, largely reflecting increases in tax revenues and other revenues.

Also, program expenses excluding net actuarial losses were down $12.2 billion, or 23.7%, reflecting decreases in transfers to persons, transfers to other levels of government, and direct program expenses. Public debt charges increased $0.6 billion, or 50.1%, reflecting higher Consumer Price Index adjustments on Real Return Bonds, offset in part by lower interest on treasury bills. And net actuarial losses were up $0.4 billion, or 43%, reflecting changes in the actuarial valuations for pensions and benefits, which have increased in large part due to declines in year-end interest rates used in valuing these obligations, as well as increased costs associated with the utilization of disability and other future benefits provided to veterans.

for the April to June 2021 period, the government posted a budgetary deficit of $36.5 billion, compared to a deficit of $120.4 billion reported for the same period of 2020-21. The budgetary deficit before net actuarial losses was $32.6 billion, compared to a deficit of $117.7 billion in the April to June period of 2020-21.