Finance Minister Paudel Advocates for Strategic Investments to Boost Economic Growth

Deputy Prime Minister and Minister for Finance, Bishnu Prasad Paudel, emphasized the government's commitment to achieving economic growth through strategic investments in projects with high potential for positive outcomes. During a meeting with Teresa Daban Sanchez, the International Monetary Fund (IMF) resident representative for Nepal, Paudel highlighted that these projects would be selected based on a comprehensive assessment of their benefits and costs, ensuring efficient management and impactful results.

Minister Paudel reiterated the government's focus on carefully evaluating loans and investments, particularly in result-oriented projects. He also assured that Nepal remains committed to implementing the policy reforms suggested during the IMF's fourth review of the Extended Credit Facility (ECF) and expressed readiness to cooperate with the IMF for the upcoming fifth review.

Sanchez recognized the significant potential in Nepal's hydropower and tourism sectors, advising that targeted capital expenditure in these areas could significantly boost economic growth and expand the economy. The current fiscal year's budget aims to achieve a six-percent economic growth rate, with a focus on strategic investments in key sectors.