KATHMANDU: Deputy Prime Minister and Minister of Finance Bishnu Prasad Paudel has highlighted Nepal’s significant progress in achieving the Sustainable Development Goals (SDGs), despite resource constraints.
Speaking at the High-Level Regional Consultation on Finance for Development in Asia and the Pacific held in Bangkok, Thailand, Paudel stressed the importance of collective efforts in implementing the Addis Ababa Action Agenda for global SDG success.
He said that while financial inclusion is crucial for maintaining development momentum in underdeveloped and developing nations, challenges persist in areas like budget planning, efficient resource allocation, project implementation, and sustainable expenditure management.
Paudel also pointed out that many underdeveloped and developing countries face difficulties in revenue mobilization. To address this, he advocated for strengthening tax administration capacities and incorporating digital economic transactions within the taxation framework.
The consultation brought together regional leaders to discuss strategies for sustainable financing and development in Asia and the Pacific, focusing on innovative financial practices to overcome economic challenges.
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