KATHMANDU: Finance Minister Swarnim Wagle has said that the upcoming fiscal year’s budget will be designed with the objective of making the national economy more dynamic and expanding its overall size.
Speaking at a meeting of the Development, Economic Affairs and Good Governance Committee under the National Assembly held at Singha Durbar on Friday, Minister Wagle said the government’s policies, principles, priorities, and budget are all aligned toward strengthening economic growth.
He stressed the continuation of economic reforms while focusing on expanding the size of the economy through investment-friendly policies.
Wagle said the government is working to create an environment that is friendly to entrepreneurs, the private sector, and investors.
Responding to lawmakers’ concerns over public debt, he clarified that the current government has not taken foreign loans beyond prescribed limits set by donor agencies.
He added that productive use of domestic and external borrowing could support positive economic growth.
The Finance Minister further said that increasing the size of the economy would help ease constraints caused by limited resources and improve fiscal flexibility.
Wagle also informed the committee that sufficient budget allocation would be ensured to complete projects that are around 60 percent complete on time.
Lawmakers in the committee emphasized the need for adequate funding to complete stalled and unfinished development projects.
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