Kathmandu. Finance Minister Dr Swarnim Wagle has said economic growth is not a far-fetched goal if the banking system is confident. <\/p>\n
Minister Wagle said this during a meeting with the Executive Directors of Nepal Rastra Bank at the Ministry of Finance today. “If the government is confident, the Nepal Rastra Bank is self-confident, the banking system is confident and the private sector is self-confident, economic growth is not a very far-fetched goal,” he said. <\/p>\n
Minister Wagle said that today’s discussion was an important phase of the common campaign of economic transformation in Nepal. “In the last few days, I have had the opportunity to hold long discussions with industrialists, entrepreneurs and CEOs of commercial banks,” he said, adding, “One thing has become very clear from both the meetings: the private sector is now looking for more confidence along with new opportunities.” They don’t just need concessions, but also clear policies, stable regulations, quick decisions and credible implementation. \u2019<\/p>\n
Wagle stressed that everyone’s thinking, priorities and performance should be oriented in the same direction. “We need to look back at the last decade. Haven’t we made the right policy decisions? We were able to do it in many places. But why did the government not give the expected results while implementing these decisions?” he asked. Why did investment confidence weaken? Why did the liquidity in the bank increase but the loan could not reach the industry? Why is the relationship between the capital market and the real economy weakening? Why didn’t production and productivity pick up the expected pace?” <\/p>\n
“These questions are not only a matter to be reviewed, but the answers to these questions will determine the economic policy of the coming decade,” he said. “The government has set a clear direction through this year’s budget. This is not a normal annual budget. This is a roadmap for economic reform and structural transformation,” he said. <\/p>\n
Wagle said that the purpose of regulation is not only to control but also to enable productive economic activities. “Are our regulations stifling or encouraging innovation? That’s a question we need to ask ourselves,” he said. <\/p>\n
Finance Minister Wagle said that he has clearly taken his responsibility on behalf of the government. “The process of reform has already begun. “We are expediting necessary legal amendments, institutional reforms and implementation,” he said, adding, “The same pace, clarity and commitment are needed from the monetary side as well.” \u2019<\/p>\n
“We want to see Nepal Rastra Bank not only as a regulatory institution but also as a partner and co-builder of Nepal’s economic transformation,” Wagle said.<\/p>\n","protected":false},"excerpt":{"rendered":"
Kathmandu. Finance Minister Dr Swarnim Wagle has said economic growth is not a far-fetched goal if the banking system is confident. Minister Wagle said this during a meeting with the Executive Directors of Nepal Rastra Bank at the Ministry of Finance today. “If the government is confident, the Nepal Rastra Bank is self-confident, the banking […]<\/p>\n","protected":false},"author":16,"featured_media":309857,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[45117,45060,45159],"tags":[],"class_list":["post-309861","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bank-finance-en","category-corporate-en","category-news-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/309861","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/comments?post=309861"}],"version-history":[{"count":1,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/309861\/revisions"}],"predecessor-version":[{"id":309862,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/309861\/revisions\/309862"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/media\/309857"}],"wp:attachment":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/media?parent=309861"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/categories?post=309861"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/tags?post=309861"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}