Rs 218bn spent in last one month

KATHMANDU: The government spent Rs 218.85 billion in the last month of fiscal year 2016-17, that is from mid-June to mid-July.

The government spending was Rs 604.64 billion in the first 11 months of the fiscal, which rose to Rs 823.49 billion by the year-end. In between the 10th and 11th month, government spending rose by a whopping Rs 94 billion.

The government’s development expenditure increased by two-fold in the last two months. Spending under development budget heading was Rs 90.24 billion by the end of the 10th month of the fiscal. Expenditure went up to Rs 120.1 billion by the end of the 11th month and surged to Rs 204.31 billion by the end of the fiscal year.

According to the Financial Comptroller General’s Office, the government spent Rs 84.21 billion on development work in the last month alone. “As the government releases payments claimed by contractors for projects that have been completed, development expenditure in the last month increases exponentially compared to regular spending on salaries, interest and principal repayment of foreign loans,” said Shanta Raj Subedi, finance secretary.