Nepalese economy as an entire is not in despair: Finance Minister Mahat
He said that now there is some pressure on Nepal's economy and the government is taking it seriously as there is a shortage situation.
KATHMANDU: Finance Minister Dr. Prakash Saran Mahat has said that Nepal’s economy as a whole is not in a state of despair.
He remarked this during the opening ceremony of the Federation of Nepal Industry and Commerce’s general meeting.
He said that now there is some pressure on Nepal’s economy and the government is taking it seriously as there is a shortage situation.
“The foreign currency exchange reserve is good,” he stated, adding that “remittances sent by our youth from abroad have contributed to the reserve’s maintenance.” Economic growth of more than 4% is considered positive. Many countries are not experiencing this degree of growth right now.’
He stated that if the world situation improves, the country’s economic climate can be developed by addressing the issues of capital development and industry investment.
He said that in the short term, all our attention will be on making capital expenditure effective, reducing unnecessary current expenditure.
“We will increase the capital expenditure by reducing the ordinary expenditure to the extent possible,” he said, “The government will facilitate the development of the economic activities of the private sector.” The permanent government will do things like removing obstacles.’
