Nepal has undergone significant changes, not ‘nothing’: Wagle

KATHMANDU: Economist Dr. Swarnim Wagle has said it is wrong to claim that “nothing has happened” in Nepal. He made the remarks during a program organized by the National Youth Council on Wednesday.

Dr. Wagle highlighted that economic policies adopted by elected governments since 2048 BS have brought substantial changes to the country, which must be acknowledged.

According to him, the economic reforms initiated by the 2048 government propelled Nepal to an average growth rate of 7 percent.

He noted that if these reforms had continued uninterrupted, Nepal’s economy could have reached around $100 billion today, compared to the current size of approximately $45 billion.

He also pointed out that over the past one and a half decades, Nepal has been caught in cycles of political and economic turmoil. Events of Bhadra 23–24 and the Gen Z movement reflect this period of transition, he said.

Dr. Wagle emphasized that successfully managing this transition could chart a new economic and political path for the country, while failure could significantly increase the risk of regression.

He urged that the responsibility to guide the nation through these challenges lies with the new generation of political leaders and emerging parties.

He further stressed that the leadership elected in the upcoming polls will need to implement reforms in dozens of laws to foster sustainable economic development.