KATHMANDU, March 7: The government on Wednesday revised the economic growth target down to 6 percent for the current fiscal year 2017/18 from the initial target of 7.2 percent.
Oraganizing a press meet at the Ministry of Finance today, Finance Minister Yubaraj Khatiwada said that the previoulsy targeted growth is difficult to achieve.
Improvement in energy supply, expansion of industrial capacity, increase in the pace of reconstruction activities have been cited as the factors contributing to the growth. The government lowered the growth forecast as the budget could not be fully implemented.
Similarly, the government has also revised budget expenditure down to 84.67 percent out of the total budget announced in the budget speech. Now this means the government estimates to spend only Rs 1082.99 billion in the current fiscal year.