Finance Minister Mahat: Economy on path of recovery

Kathmandu: Finance Minister Dr Prakash Sharan Mahat said the country’s economy has started catching its pace.

During a program organized by the Nepali Congress (NC) Baglung on Friday, the Minister said the government is focused on ensuring a sustainable improvement in the economy. He added that economic indicators suggest that the economy is recovering. According to him, when he assumed office, the inflation was eight percent and the bank interest rate was 16 percent. A significant volume of investment was in real estate and the stock market. Now bank interest rates are coming to a single digit, there is a rise in economic growth and though overnight improvement is not possible, the economy has been on the gradual path of recovery.

He accused the previous government of implementing projects haphazardly, causing more financial responsibilities to the incumbent government. The Minister who is also the Spokesperson for the Nepali Congress said, ‘Sentiments are not enough to drive the party, it should be capable for giving a right leadership to the nation and bringing prosperity in the country.’ .  He  even argued that the relevance of a coalition government is becoming vital when constitutionally it seems that no political parties are in the status of garnering a majority in the election.

Dr. Minister Mahat is in Baglung, to attend an economic dialogue to be held under Ananta Shree Brhamandiya Mahayagya, a religious event that runs till March 6.

RSS