Finance Minister asserts 4.5 percent economic growth potential

Finance Minister Barsha Man Pun has claimed that country’s economy was coming out from a slowdown.

Positive indicators are seen in the national economy, he said, expressing confidence on achieving 4.5 percent economic growth.

Finance Minister Pun viewed it while addressing a workshop on ‘financial policy for sustainable development’ here today.

It is worth noting that the National Statistics Office on Tuesday had projected economic growth to stand at 3.54 percent.

The Finance Minister, however, admitted, “Our economy has not fully come out from slowdown. Naturally, there are internal and external factors. Statistics have indicated gradual improvement. The projections made so far by the World Bank, ADB and NSO are based on the nine-month data. So, the government has projected economic growth over 4.5 percent,” he explained, arguing we still have three months left to complete the current fiscal year.

The Minister also expressed hesitation to claim that the economy is stable and robust.

According to him, government was formulating policy based on the market of emerging neighbours, India and China.

Also taken into account are global sociopolitical scenario, labour market, national natural resources, and geopolitics, he shared.

Despite the economic slowdown, the hotel and tourism sector witnessed 21 percent economic growth while the energy sector recorded 17 percent growth.

The construction sector is however negative, he informed.

Minister Pun said he would not accept the narrative that political instability was behind slow development works in Nepal.

The government’s policy on energy has created an atmosphere to export energy to India and Bangladesh, he underlined.