KATHMANDU, May 28: The government has admitted that there has not been expected improvement in the economy since the establishment of the republican system in the country.
Finance Minister Barsha Man Pun said that due to several reasons including prolonged political transition, earthquakes, COVID-19 pandemic, the expected economic development has not been achieved.
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He made this remark while presenting the budget for the next fiscal year 2024/25 in the joint meeting of parliament.
Minister Pun said that due to the decline in consumer demand, low expansion of credit, decrease in import of goods, the economy could not expand as expected even in the current fiscal year.
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