Kathmandu, February 7:

Institute for Development Studies (IfDS) has reiterated by the data it published earlier. “IfDS stands by its figures on deteriorating economic situation in the country,” states a press release signed by Dr Raghav Dhoj Pant, executive director of IfDS issued here today. State minister for finance Dr Roop Jyoti yesterday at a press meet had expressed disagreement with the figures projected by IfDS.

“The economy is in a miserable state and may collapse at any point of time,” IfDS says adding that the government’s public statement on economy is prejudiced, baseless and contradictory considering the existing economic outlook. “IfDS does not see any necessicity to change its stand as it had done a comprehensive survey on economy,” states the release. “However, the government is ‘frightened’ to see the discouraging figures. The state minister has also tried to give misleading figures on remittance, IC reserve and inflation.”

Government’s has not clearly stated the direction of economy in the days ahead, states the release. IfDS has also suggested for timely reforms in the policies to get the economy back on the right track.