Kathmandu: The Ministry of Finance has begun assessing the economic repercussions of the recent floods and landslides that devastated the region. During a meeting of the ministry’s High Management Team today, Deputy Prime Minister and Minister for Finance Bishnu Prasad Paudel emphasized the need for detailed analysis as additional funds and resources will be necessary for rescue, relief, and reconstruction efforts.
The natural disasters, triggered by incessant rains on September 27, 28, and 29, have resulted in significant loss of life and property. Minister Paudel noted that the damage to private shelters, roads, hydropower projects, educational institutions, and various sectors, including agriculture and trade, could adversely affect the economy, which was previously showing signs of improvement. He stressed the importance of preparing a solid foundation for economic growth while ensuring that relief and reconstruction efforts are conducted in an organized manner.
Prior to the disasters, the Ministry of Finance, along with the International Monetary Fund, the World Bank, and the Asian Development Bank, had reported that Nepal’s economy was on an upward trajectory.