NRB unveils economic activity study report

Published On: June 29, 2023 01:57 PM NPT By: Republica | @RepublicaNepal

KATHMANDU, June 29: A report highlighting the economic activities in the country was unveiled on Tuesday.

Nepal Rastra Bank (NRB), the central bank of the country, publicized the report carrying out data-based study on half-yearly economic affairs from mid-July 2022 through mid-January 2023.

As of mid-January 2023 in the current fiscal year, the main agriculture production (food and other crops and vegetables, fruits and spices) has increased by 4.3 percent. Likewise, geographical land covered by such crops has decreased by 2.1 percent.

Production of food and other grains has gone up by 5.7 percent. Likewise, vegetable and horticulture yields have increased by 4.5 percent.

However, the production of fruits and spices has decreased by 5.2 percent and 8.4 percent, respectively. According to the report, milk production has increased by 1.4 percent and meat production upped by 1.7 percent.

Likewise, in the half yearly period, egg production has decreased by 26.3 percent. Under timber-based production, wood production has increased by 16.23 percent and medicinal good production upped by 7.4 percent, the report stated.

As of mid-January 2023 in the current fiscal year, capacity use of the industries has reached 43.7 percent on average. In the reporting period, the flow of loan by the banks and financial institutions to the industrial sector was 27.9 percent.

Real estate registration has decreased by 50.03 percent and revenue generated through land registration has reached Rs 9.9 billion, the report noted.

The deposit of the banks and financial institutions has increased by 9.1 percent and loan flow by 4.1 percent as of January 2023 in comparison to the corresponding period last year.

The number of total vehicles registered as of mid-January 2023 has increased by 4.1 percent compared to the same period of fiscal year 2022/23.

The report further shared that 34,075 km of road was expanded and 3,018 bridges were constructed in the first six months of the current fiscal year under the infrastructure sector.

During the reporting period, altogether 32 airline companies, including three Nepali airlines and 29 foreign airlines have operated flight services to different destinations. The number of airports in operation during any season has reached 33.

(RSS)