Economy will grow 4.5%, claims Pun

KATHMANDU: Minister for Finance Barshaman Pun has said that the country’s economy will grow by 4.5% in the current fiscal year.

Pun made the claim a day after the National Statistics Office projected a growth of 3.87% in the current fiscal year.

“The World Bank and the Asian Development Bank have made forecasts of 3.3% and 3.6%, respectively. The National Statistics Office projected 3.87% economic growth on Tuesday,” Pun said. “But our estimates show growth will be higher than 4.5%.”

Addressing a workshop on ‘Finance Policy for Sustainable Development’ in Kathmandu on Wednesday, Pun said positive indications have been seen in the economy compared to the previous fiscal year. “Our economy is seeing a slight slowdown due to both internal and external factors. However, there have been visible improvements in recent months,” Pun said.

Although Minister Pun acknowledged that the economy hasn’t fully recovered, he said the government was making efforts to formulate favorable economic policies by considering global economic and political centers, labor market conditions, labor force, internal natural resources, and geopolitics, particularly Nepal’s position between two rising economic powers, India and China.