Up to
1960
, the fiscal year began as of January
1
and terminated on December
31
of each
year according to the calendar year. Thereafter, it has been changed to commence on October
1
of each year and end on September
30
of the following year.
Public Debt
Public debt is the volume of outstanding direct government borrowing plus domestic and
foreign loans guaranteed by the government. The total can be classified into two categories of
internal and external debts.
