Kathmandu. The indicators of the country’s economy are encouraging. Progress has been seen in most of the indicators.
Nepal Rastra Bank (NRB) has released the current fiscal year 2082. This is evident from the current economic and financial situation of the country in the first two months of ’83 BS. The remittance inflow has increased by 33.1 per cent to Rs.352.08 billion till mid-August. The remittance inflow had grown by 15.8 per cent in the same period of the previous year. Remittance inflow for the month of August 2082 was Rs. 174.67 billion. In the same month of the previous year, the remittance inflow was Rs. It was Rs 127.99 billion.
Similarly, the year-on-year consumer price inflation stood at 1.87 percent in August 2022. In the corresponding month of the previous year, it was 3.86 percent.
In the first two months of the current fiscal year, merchandise exports increased by 88.6 percent to reach Rs 47.32 billion. Such remittances had decreased by 5.3 percent in the corresponding period of the previous year.
Similarly, the total import of goods increased by 16.2 percent in the review period. It has reached Rs 305.16 billion. Such imports had increased by 1.6 percent in the same period of the previous year.
The total merchandise trade deficit increased by 8.6 percent to Rs. It has reached Rs 257.84 billion. Such deficit had increased by 1.8 percent in the same period of the previous year.
As of the review period, the current account is Rs. There is a surplus of Rs 130.69 billion. In the same period of the previous year, the current account was Rs. It had surplus of Rs 54.41 billion.
During the review period, the balance of payment position was Rs. There is a surplus of Rs 153.68 billion. In the same period of the previous year, the balance of payment position was Rs. There was a surplus of Rs 101.77 billion.
Rs. 2082 The total foreign exchange reserves increased by 7.6 percent to Rs. 2677.68 billion as of mid-September 2022. It has reached Rs 2,881.35 billion. Based on the imports of these two months, the foreign exchange reserve with the banking sector is sufficient to sustain the import of goods for 19.7 months and goods and services for 16 months.
