Current Economic Situation of Nepal

Current Economic Situation of Nepal

The Ministry of Finance has released the ‘Current Economic Situation of Nepal’, covering the country’s economic situation. Key points

  • Public debt burden is increasing rapidly
  • Capacity to spend capital is weak
  • War in West Asia poses multifaceted challenges to Nepali workers and remittances
  • Economy under the impact of external challenges Economic growth rate averaged only 4.2 percent in the last decade Although 62 percent of the population still depends on agriculture, productivity is lowNepal has lost its financial credibility at the international level after being placed on the ‘grey list’ of the Financial Action Task Force (FATF),
  • The state of the industry is weak Employment opportunities have not been created in sufficient quantities, The country has failed to utilize natural resources properly,
  • The spending capacity of the provinces and local levels is weak Structural imbalance in foreign trade
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