ADVERTISEMENT
ECONOMY

Achieving 7 pc economic growth rate almost impossible: NRB Governor

KATHMANDU, Jan 9: Nepal Rastra Bank (NRB) Governor Maha Prasad Adhikari has said achieving the economic growth rate...

By Republica

KATHMANDU, Jan 9: Nepal Rastra Bank (NRB) Governor Maha Prasad Adhikari has said achieving the economic growth rate of seven percent targeted by the government for this fiscal year will be a herculean task.


Speaking at a parliamentary Public Accounts Committee meeting on Sunday, the country’s central bank governor expressed his view on the growth target at a time when the government is claiming to meet the target. Time and again, Finance Minister Janardan Sharma has been reiterating to utilize the budget of capital expenditure by 10 percent every month to achieve the goal.


Related story

Private power producers seeks reform in govt’s policy and proce...


The coalition government led by Prime Minister Sher Bahadur Deuba through the substitution budget last September set an ambitious seven percent economic growth target for the current fiscal year. The growth target is 0.5 percent points more than the target announced by the erstwhile KP Oli-led government.


However, the NRB Governor said it would be very difficult for the government to achieve the target. According to him, it will be an added challenge also to maintain the inflation rate within the target of 6.5 percent due to soaring price of petroleum products and increased interest rates triggered by the ongoing shortage of loanable funds. 


 

Related Stories
ECONOMY

NEPSE surges 56.09 points; daily turnover declines to Rs 6.13 billion

1 min read
ECONOMY

Finance ministry starts homework on resource management for disaster recovery

1 min read
ECONOMY

Peter England launches new store in Nepal with actor Ayushman Joshi

3 min read
ECONOMY

NBL contributes Rs 20 million to Prime Minister Disaster Relief Fund

1 min read
ECONOMY

Annapurna Conservation Area sees surge in arrival of tourists

2 min read