KATHMANDU, May 13: Development partners have advised Finance Minister Bishnu Paudel to bring a realistic budget, taking available resources into consideration.
During a discussion hosted by the Ministry of Finance on Tuesday, representatives of development partner organizations advised Finance Minister Paudel to prepare the budget based on available resources and implementation capacity, rather than being overly ambitious.
Representatives from India, China, the United States, the United Kingdom, Japan, South Korea, Australia, Norway, Germany, Finland, the European Union, the World Bank, the Asian Development Bank, the United Nations, the International Monetary Fund, and the World Health Organization, among others, participated in the discussion.
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Finance Minister Bishnu Paudel assured development partners that the government would prioritize economic reforms in the upcoming budget, his secretariat said. “We started economic reforms some time ago and are already seeing positive results. In the coming days, we will give even greater priority to these reforms,” Paudel said.
He added that the next budget would focus on encouraging the private sector, generating employment opportunities, boosting production and productivity, and strengthening the national economy.
Finance Minister Bishnu Paudel urged development partners to continue their support, saying the government will cut spending and focus the budget on high-yield projects due to limited resources.
“We will align foreign assistance with Nepal’s needs and priorities and ensure its proper and effective use,” Paudel said. “We will also address issues related to capital expenditure.”
