KATHMANDU: Deputy Prime Minister and Finance Minister, Bishnu Prasad Paudel, has said that the results of the half-yearly progress of the budget for the fiscal year are mixed.
Presenting the ‘Half-Yearly Assessment Report of Budget Implementation for the Fiscal Year 2081/82’ at today’s meeting of the National Assembly, he mentioned that geopolitical tensions and other international factors have affected the supply chain, expected loan expansion has not occurred, and there are challenges in achieving the economic growth target due to the lack of improvements in the construction sector.
Deputy Prime Minister Paudel stated, “Although the government’s adopted policy arrangements and reform efforts, along with external balance, sufficient liquidity, and assurance of low-interest rates, are expected to lead to an increase in economic activities and bring us closer to the economic growth rate target for this year.”
He mentioned that continuous improvement efforts in public financial management systems, implementation of accounting and reporting systems according to international standards, have increased the transparency and reliability of the financial system.
During the review period, overall expenditure has increased by 17.66 percent compared to the same period of the previous fiscal year.
The Finance Minister mentioned that there has not been significant improvement in capital expenditure, which serves as a driver for economic growth, and that it is expected to remain sluggish until the middle of the fiscal year.
Finance Minister Paudel informed that the revised estimate for total spending in the current fiscal year is around Rs 16 trillion 92 billion and 730 million, whereas the initial estimate was Rs 18 trillion 60 billion and 3 million.
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