What is the definition of public borrowing and debt management?

Public borrowing refers to the process by which a government raises funds by issuing securities, such as bonds, to finance public expenditures that exceed its revenue. Debt management involves the strategic handling of a government's debt portfolio to ensure that obligations are met, costs are minimized, and risks are managed effectively. Together, these concepts aim to maintain fiscal stability and support economic growth while ensuring that future liabilities do not become unsustainable.