Despite the economic crisis brought on by the epidemic, Nepal’s monetary position, index status, and exchange reserves are all favorable, and the financial sector is solid, according to Finance Minister Bishnu Prasad Poudel, who unveiled the economic review on Friday.
The second wave of Covid-19, which began with the start of the new year 2078, has once again posed a challenge to the dynamic economy and raised the risk, he claims. In 2076/77, Nepal’s economic growth rate was negative at 2.12 percent. Minister Poudel described the current growth rate of 4.01 as “difficult.” The Central Statistics Office had previously forecast 4.01 percent GDP growth in the current fiscal year.
Finance Minister Poudel further stated that Rs. 1.32 billion has been transferred to the social security fund. The contribution amount to be deposited on behalf of workers and employers was paid to the Social Security Fund in the last four months of fiscal year 2076/77.