Slowdown in economic activity after Gen-Z movement, says FM Wagle
The minister said the government has designed its policies, programs, and budget in response to the changing post-movement situation.
KATHMANDU: Finance Minister Swarnim Wagle has said that Nepal’s economic activity has slowed following the Gen-Z movement, noting that the country’s political and economic landscape has entered a new phase.
Responding to lawmakers’ queries during a budget discussion in the National Assembly on Monday, the minister said the government has designed its policies, programs, and budget in response to the changing post-movement situation.
He stated that Nepal’s economy has still not fully recovered from the impact of the COVID-19 pandemic, with weak market demand continuing to weigh on overall economic performance.
“After the Gen-Z movement, the country’s politics has taken a new turn. We are moving forward addressing that reality,” Wagle said. “Post-COVID, the economy has not returned to its full rhythm. Demand in the market is weak, buying and selling activity is sluggish, and spending capacity has weakened.”
According to him, private sector investment has also remained below expectations, while ongoing uncertainty among investors has further affected economic momentum.
The finance minister added that the current budget has been formulated with a focus on reviving economic activity, boosting market demand, and encouraging private sector investment.
He further claimed that the budget prioritizes improving the living standards of lower-income groups and expanding economic opportunities across the country.
