Economy on path of recovery: Finance Minister Mahat

Finance Minister Dr Prakash Sharan Mahat has said the country’s economy has started catching its pace.

During a programme organised by the Nepali Congress (NC) Baglung today, the Minister said the government is focused on ensuring a sustainable improvement in economy. He added that economic indicators suggest that economy is recovering.

According to him, when he assumed office, the inflation was eight percent and bank interest rate was 16 percent. A significant volume of investment was in real estate and stock market. Now bank interest rate is coming to a single digit, there is a rise in the economic growth. Though overnight improvement is not possible, the economy has been in the gradual path of recovery.

He accused the previous government of implementing projects haphazardly, causing a more financial responsibilities to the incumbent government.

The Minister who is also the Spokesperson for the Nepali Congress said, “Sentiments are not enough to drive the party. It should be capable for giving a right leadership to the nation and bringing prosperity in the country.”

He argued that the relevance of a coalition government is becoming vital when constitutionally it seems that no political parties are in the status of garnering a majority in the election. He is here to attend an economic dialogue to be held under Ananta Shree Brhamandiya Mahayagya, a religious event to run till March 6.