Exports of 2 billion could not support imports of 21 billion: Governor
Even attempting to formalize remittances, according to Governor Adhikari, would be impossible.
KATHMANDU: MAY. 4 – Nepal’s economic growth, according to Governor of Nepal Rastra Bank Maha Prasad Adhikari, is satisfactory.
Governor Adhikari stated at a program organized by the Institute of Chartered Accountants of Nepal (ICAN) on Wednesday that economic growth of 5.5 percent this year should be considered satisfactory, compared to 5.8 percent last year.
He stated that the impact of rising global fuel prices has been felt in Nepal’s economy. He stated that the external sector is the most difficult issue in the current situation.
He contended that exports of about 2 billion could not support imports of about 21 billion from import-carrying remittances, but that remittances were not sustainable at the moment.
Even attempting to formalize remittances, according to Governor Adhikari, would be impossible.
He stated that some imported materials were still not being used in Nepal and that more research was needed on the subject.
He also stated that there was a suspicion that the payment was made despite the fact that the goods had not been delivered.
