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Started 8 hours ago · Updated 56 minutes ago

Nepal's Economy Projected to Grow 3.85% Amidst Global Uncertainty, Finance Minister Reports

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Nepal's economy is projected to grow by 3.85 percent in the current fiscal year, according to the Economic Survey presented by Finance Minister Dr. Swarnim Wagle. Despite global economic uncertainty and regional conflicts, the nation's macroeconomic indicators have shown improvement, with the total economy estimated to reach Rs. 6.6 trillion and per capita national income projected at USD 1,535.

  • Foreign exchange reserves have reached a historic high of Rs. 3.414 trillion, sufficient to cover 18.5 months of imports, driven by a 37.7% increase in remittance inflows to Rs. 1.45 trillion.
  • Bagmati Province is expected to lead economic activity, contributing 36.7% to the GDP, while Bagmati and Gandaki provinces are projected to grow above the national average.
  • The agricultural sector is projected to contribute 24% to GDP, with non-agricultural sectors accounting for 76%, though paddy production has declined by 4.20%.
  • Federal revenue increased by 3.2% by mid-March, while government expenditure rose by 10.4%, but capital expenditure remains weak.
  • Public debt has reached Rs. 2.878 trillion, equivalent to 43.6% of GDP, with Rs. 300 billion mobilized in the current fiscal year.

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