KATHMANDU: Economic Digest offers a concise yet comprehensive overview of significant business happenings in Nepal, presented in easily digestible summaries.
Nepal’s foreign trade has shown strong growth, increasing by 13.30% in the first seven months of the current fiscal year, driven by both higher imports and exports.
The trade volume reached Rs. 1.11 trillion, up from Rs. 984.77 billion in the same period last year.
This increase reflects a broader economic recovery and growing demand for both domestic and international goods.
Meanwhile, the NEPSE index saw a slight rise, indicating stable market conditions.
Additionally, the government has allocated Rs. 18.88 billion for infrastructure repairs following natural disasters, highlighting ongoing recovery efforts.
As the domestic gold market continues to see price increases, the government’s focus on renewable energy and efficiency reflects long-term economic priorities, aiming to boost private sector investments and enhance energy security.
Foreign Trade increases by 13.30% in first seven months of current fiscal year
Nepal’s foreign trade witnessed a 13.30% increase in the first seven months of the current fiscal year compared to the same period last year, according to data released by the Customs Department.
Both imports and exports saw a notable rise during this period.
Foreign trade during the first seven months of the previous fiscal year was valued at Rs. 984.77 billion, whereas it reached Rs. 1.11 trillion in the current fiscal year.
NEPSE index slightly rises, ending at 2,743.74
The Nepal Stock Exchange (NEPSE) on Thursday saw a modest increase today, gaining 3.14 points (0.11%) to close at 2,743.74, following an 11.91-point rise in the previous session.
The trading began at 2,738.91, with the index fluctuating between a peak of 2,752.35 and a low of 2,720.69.
The total turnover for the day was Rs. 8.62 billion, with 15,637,006 shares traded across 309 companies through 86,223 transactions.
Rs. 18.88 billion allocated for repairing damaged roads and bridges
The Ministry of Finance has sanctioned Rs. 18.88 billion for the reconstruction of infrastructure damaged by floods and landslides in late September.
The funds will be distributed across 26 projects, primarily focusing on the repair of roads and bridges.
This decision followed a formal request for financial assistance made by the Ministry of Physical Infrastructure and Transport on February 16.
A resource agreement was finalized on Wednesday to support the rebuilding efforts.
The allocated budget will fund the restoration of 13 roads and 13 bridges, including key highways like BP Highway, Mechi Highway, Araniko Highway, and Kanti Highway.
Gold prices continue to rise in domestic market
The price of gold has been steadily increasing in the Nepali market since Tuesday.
Today (Thursday), gold price increased by 500 rupees per tola compared to Wednesday.
The price, which was 170,500 rupees per tola on Wednesday, was set at 171,000 rupees on Thursday.
‘Renewable Energy and Energy Efficiency govt’s priority’
Minister for Energy, Water Resources and Irrigation, Deepak Khadka, has said a dedicated act regarding the renewable energy and the energy sufficiency is the priority of the government.
He said the government has realised the need of a dedicated act to deal with the renewable energy and energy efficiency.
The NREP has supported to increase private sector’s investment in renewable energy projects and expand citizens’ access to renewable energy, according to the Minister.
Lumbini Province reports 22 per cent capital expenditure
The Lumbini Province government has spent 24.91 per cent of the total budget so far in the current fiscal year.
In the current fiscal year, a budget of Rs 38.97 billion was allocated. Of this, Rs 24.58 billion was allocated towards capital and Rs 11.24 billion towards current expenditure.
Nepal imports rice worth Rs 14 billion
Despite maintaining the image of an agricultural country, Nepal imported rice worth Rs 14 billion and maize worth over Rs 9.5 billion in the first seven months of the current fiscal year.
This comes as vast agricultural lands across the country remain fallow.
According to the latest data from the Customs Department, Nepal imported goods worth Rs 1.115 trillion during this period, with over Rs 100 billion spent on agricultural products that could potentially be produced domestically.
Nepal Buildcon Int’l Expo kicks off
The 10th Nepal Buildcon International Exhibition kicked off at Bhrikutimandap on Thursday.
Minister for Physical Infrastructures and Transport, Devendra Dahal, stressed the need of determining the priorities of development construction works in the country.
“Making the country prosperous and constructing the necessary roads in order to take local products in urban areas are in country’s priority”, he said.
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