Kathmandu. The Ministry of Finance has claimed that the country’s economy has gained momentum.
The Ministry has made this claim while publishing the Finance Bulletin till February of the current fiscal year. According to the Ministry, the external indicators of the economy are strong and strong, while the internal indicators are improving.
Increase in revenue circulation, increase in capital expenditure, increase in scope of tax, increase in foreign aid commitment, increase in NEPSE index, increase in exports, increase in imports, among others. “Public finance indicators are positive,” the bulletin said.
According to the Ministry, the federal government’s revenue mobilization has increased by 12.7 percent and total expenditure by 4.94 percent in the current fiscal year. According to the Ministry of Statistics, the public debt has increased by 9.9 percent compared to mid-June 2018.
Annual consumer inflation stood at 3.75 per cent, while inflation in both food and beverages declined, the bulletin said. “Total merchandise imports grew by 11.2 per cent and exports by 57.2 per cent,” the bulletin said. ’
According to the Ministry, the number of workers seeking new labour permit for foreign employment and workers seeking re-labour permit has also increased compared to last year. “Also, remittance inflows increased by 9.4 per cent,” the ministry said, adding that tourist arrivals increased by 1.9 per cent. ’
According to the Ministry, there has been a significant increase in foreign aid commitments (119.4 percent) and foreign exchange reserves have increased. “Both the current account and the balance sheet position are in savings,” the bulletin said, adding, “The scope of tax has expanded with the increase in the number of taxpayers taking personal and professional permanent account numbers.” ’
