FM Mahat Optimistic as Nepal's Economy Shows Signs of Recovery
Finance Minister Dr. Prakash Sharan Mahat emphasized that the country's economy is on the path to recovery. During an event organized by the Economic Media Association Nepal (EMAN) to celebrate its first anniversary, Minister Mahat reiterated the positive direction of the economy. He highlighted the past inefficiencies in spending money in unproductive sectors, leading to economic pressure. However, he assured that the current focus on capital expenditure is gradually restoring the economy.
Minister Mahat urged debtors to fulfill their loan obligations and called for collaborative efforts from the private sector, media, government, and civic society to enhance the country's economy. He expressed confidence that collective efforts would accelerate economic growth, noting that while the country has capital, efficient spending remains a challenge.
Guru Prasad Poudel, Executive Director of Nepal Rastra Bank, acknowledged the dynamic nature of Nepal's economy, with decreasing imports and increasing remittances. He stressed the need for better credit flow in banks and financial institutions and encouraged the media to disseminate positive news about the economy.
Chandra Prasad Dhakal from the Federation of Nepalese Chambers of Commerce and Industry lamented the challenges in spreading the positive indicators of the economy among the public. He urged the government to create a conducive environment for investment, considering recommendations from the private sector for the upcoming Investment Summit in April.
Other speakers, including Kamalesh Kumar Agrawal from Nepal Chambers of Commerce, Om Devi Malla from the National Cooperatives Federation of Nepal, and leaders from Nepal Bankers Association and the Confederation of Nepalese Industries, appreciated EMAN's role in economic development. EMAN's President, Royal Acharya, highlighted the organization's advocacy for the national economy and support for banks and financial institutions.
