Kathmandu. Nepal Rastra Bank has made public the report on the country’s economic and financial situation for the 8 months of the current fiscal year up to Falgun. According to the report, the country’s economic situation appears satisfactory.
Foreign exchange reserves in the country have increased. Total foreign exchange reserves, which were Rs. 2041.10 billion in mid-Ashar 2081, have increased by 18.0 percent and have reached Rs. 249.25 billion in mid-Falgun 2081. In US dollars, such reserves have increased by 13.1 percent to Rs. 17.27 billion in mid-Ashar 2081, from Rs. 15.27 billion in mid-Falgun 2081.
Similarly, based on these 8 months of imports, the foreign exchange reserves held by the banking sector appear to be sufficient to cover 17.2 months of goods imports and 14.3 months of goods and services imports.
In the month of Falgun 2081, the annual point consumer inflation was 3.75 percent. In the same month of the previous year, such inflation was 4.82 percent. Total merchandise exports up to Falgun have increased by 57.2 percent to Rs. 158.17 billion. Such exports had decreased by 4.0 percent in the same period of the previous year.
In the 8 months of the current fiscal year, total merchandise imports increased by 11.2 percent to Rs. 1145 billion 570 million. Such imports had decreased by 2.7 percent in the same period of the previous year. The total merchandise trade deficit increased by 6.2 percent to Rs. 987 billion 390 million during the review period. Such deficit had decreased by 2.5 percent in the same period of the previous year.
In the review period, remittance inflow increased by 9.4 percent to Rs. 1051 billion 770 million. Remittance inflow increased by 18.3 percent in the same period of the previous year. Remittance inflow in US dollars increased by 6.9 percent to Rs. 7.74 billion. The previous year, such inflows had increased by 16.1 percent.
The current account remained in surplus by Rs. 180.08 billion during the review period. The current account remained in surplus by Rs. 167.45 billion during the same period of the previous year. The balance of payments position remained in surplus by Rs. 310.37 billion during the review period. The balance of payments position remained in surplus by Rs. 327.55 billion during the same period of the previous year.
