KATHMANDU: The Office of the Auditor General has recommended a series of policy and structural reforms to build a sustainable and self-reliant economy.
The office said that sustainable economic growth can be achieved through increased domestic production, job creation, and the development of a skilled workforce.
In its 63rd annual report, the office emphasized the need to strengthen preparedness and risk management systems in the economic and financial sectors in order to minimize potential impacts of global economic instability, natural disasters, and external risks.
It further suggested gradually reducing cash-based economic activities and expanding digital payment systems to widen the scope of the formal economy. It also recommended strengthening digital public infrastructure and enforcing invoice-based transactions in all forms of business dealings.
The report also highlighted the need to boost foreign investment and foreign currency earnings from the tourism sector by improving infrastructure, enhancing service quality, diversifying destinations, and encouraging private sector investment.
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