Overall economy not in tailspin: NRB


April 8, 2022


Overall economy not in tailspin: NRB

Nepal Rastra Bank (File photo)

KATHMANDU: At a time when there have been news reports, warning of an economic slump in the country, the central bank of the country, Nepal Rastra Bank (NRB) has said overall economic status of the country is not in tailspin.

At a program organized by Reporters’ Club in the federal capital on Thursday, Executive Director and Spokesperson at NRB Gunakar Bhatta viewed that although the economy witnessed some stress due to liquidity and inflation, the pillars of economy are still strong. He admitted that Nepal’s economy has the impacts of Russia-Ukraine war. It affected our supply system, he added.

Bhatta further informed that although the foreign exchange reserve is slightly lower than the corresponding period of the last fiscal year, there is no need to panic at all. As the COVID-19 impact is subsiding, positive changes would be seen in economy, Bhatta claimed.

The government has tightened the import of luxury goods. “Currently, we have the reserve that suffices the import of goods and services for six and half months,” he said.