KATHMANDU: Nepal’s annual average inflation for the last fiscal year was 5.44 percent, remaining within the anticipated ceiling.
According to the “Current Macroeconomic and Financial Situation of Nepal,” unveiled by the Rastra Bank today, imports decreased by 1.2 percent, while exports fell by 3 percent over the past year.
In contrast, the previous year saw a more significant decline, with imports dropping by 16.1 percent and exports by 21.4 percent.
Remittance inflows rose by 16.5 percent to reach Rs. 1,445.32 billion, although this was lower than the 23.2 percent increase recorded in the previous year.
In U.S. dollar terms, remittances increased by 14.5 percent, totaling $10.86 billion, compared to a 13.9 percent rise the previous year.
The balance of payments recorded a surplus of Rs. 502.49 billion, up from Rs. 285.82 billion the year before.
Gross foreign exchange reserves stood at USD 15.27 billion, sufficient to cover imports of merchandise and services for 13 months.
Broad money (M2) expanded by 13.0 percent, with deposits at Banks and Financial Institutions also rising by 13.0 percent.
Private sector credit increased by 5.8 percent during the review period. Total deposits at BFIs amounted to Rs. 6,452 billion, while private sector credit reached Rs. 5,074 billion.
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