Finance Minister optimistic as economic indicators point to growth

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Kathmandu: In a recent gathering organized by the Nepal Trade Union Congress in Lalitpur, Finance Minister Dr. Prakash Sharan Mahat asserted that the country’s economy is on an upward trajectory. Minister Mahat highlighted various positive indicators, fostering optimism for economic growth.

Tourist arrivals are experiencing an uptick, and interest rates at banks and financial institutions are showing a steady decrease, according to Minister Mahat. Additionally, he noted a significant rise in remittance, contributing to the overall positive economic outlook.

The Finance Minister shared insights into the government’s efforts to liberalize the monetary policy through constructive discussions. He expressed confidence that such measures would gradually fortify industries and businesses, subsequently increasing the demand for workers.

During his address, Minister Mahat underscored the pivotal role of trade unions in creating employment opportunities for the jobless population. He stressed the importance of continuous dialogue between workers and entrepreneurs, fostering friendly and productive relations.

Looking ahead, Minister Mahat disclosed the government’s plan to host an investment summit in May next year, aimed at attracting foreign investments to Nepal. He acknowledged the challenges of reducing the cost of industrial goods compared to imported alternatives and highlighted the government’s commitment to prioritizing infrastructure development.

Acknowledging productivity challenges, Minister Mahat emphasized the need for increased efficiency and identified the development of infrastructure as a crucial step in overcoming these challenges. He further underscored the importance of utilizing workers’ knowledge and capacity effectively, urging industrialists to embrace new technologies for cost reduction.

As the country looks forward to economic growth, Minister Mahat’s positive assessment and strategic plans aim to propel Nepal towards a more prosperous future.