KATHMANDU, Aug 23: Foreign Minister Shishir Khanal has said that signs of gradual improvement are emerging in Nepal’s economy.
Economic trends: Bright spots and malaise
Speaking at an interaction organised by the Tokha Municipality-1 committee of the Rastriya Swatantra Party in Jhor on Saturday, Khanal said the country’s economy was gradually moving toward recovery.
He said tax collection increased by 10 percent in Shrawan, the first month of the current fiscal year, compared to the same month last year. According to him, positive activity has started picking up in the market, helping make the economy more dynamic.
Khanal also said a decision was taken during Shrawan to invest in a hydropower project under the leadership of Nepali banks. He expressed confidence that such investment would contribute to economic growth.
The minister said private sector confidence had increased following the implementation of the new budget and projected that the share market would also see positive improvement in the coming year.
Khanal, who is also a lawmaker from Kathmandu Constituency 6, said plans were being advanced to construct a flyover in the Gongabu area to ease traffic congestion in Kathmandu. He also said work was underway to connect the Sangla Khola Corridor with an international highway.
