Achieving economic growth rate of 4.01 percent challenging this fiscal: Finance Minister « Khabarhub
Thursday, June 20th, 2024

Achieving economic growth rate of 4.01 percent challenging this fiscal: Finance Minister

28 May 2021  

Time taken to read : 2 Minute

  • A
  • A
  • A

KATHMANDU: Finance Minister Bishnu Prasad Poudel has said that it will be difficult to meet the target of economic growth in the current fiscal year.

Announcing the Economic Survey 2020/21 at a press meet held Friday, the Finance Minister attributed the situation to the impact of COVID-19 on the economy. Nepal’s economic growth rate was -2.12 percent in 2019/20.

According to Finance Minister Poudel, it has become challenging to achieve the projected economic growth rate of 4.01 in the current fiscal.

Earlier, the Central Bureau of Statistics had projected 4.01 percent economic growth for the current fiscal year. Likewise, the budget had also projected economic growth of an average of 7 percent.

Finance Secretary Shishir Kumar Dhungana informed that the growth rate of the economy was better before the prohibitory order came into effect. He was of the view that prohibitory orders enforced to contain the coronavirus spread was taking their toll on economic growth.

“In the mid-term review, we expected an economic growth of around 5 percent, but the prohibitory ban has caused problems,” he said.

Publish Date : 28 May 2021 18:32 PM

NEPSE declines by 10 points; significant drop in life insurance sector

KATHMANDU: The Nepal Stock Exchange (NEPSE) witnessed a substantial downturn

Bagmati Provincial Assembly meeting adjourned due to opposition sloganeering

HETAUDA: The Bagmati State Assembly faced disruption as opposition parties

Indian toxic alcohol brew kills at least 34

MUMBAI, INDIA: A batch of toxic illegal alcohol in India

North Korea, Russia pledge mutual defense, surprising many observers

SEOUL, SOUTH KOREA: North Korea and Russia have signed a

PM Dahal assures legal actions against those guilty for Tikapur incident

KATHMANDU: Prime Minister Pushpa Kamal Dahal has assured that legal