Economy picking up pace: Guv Nepal

Damauli, May 1

Nepal Rastra Bank Governor Chiranjibi Nepal today said that the slowed economy due to the devastating earthquake of last year and the border blockade was gradually rejuvenating.

Inaugurating the 90th branch of Global IME Bank in Damauli, Tanahun, today, Nepal said that the months of blockade at the border points had opened the eyes of the Nepalese.

“Now is the time to become self-reliant by multiplying the opportunities of investment here in the country, which will also be a milestone in reforming the country’s economy,” he said.

Governor Nepal reminded that the country was facing a trade deficit of Rs 393 billion and generating remittance of Rs 427 billion.

He also said the government was working on making the country’s economy grow by five per cent in the next fiscal, instead of the current two per cent. “With a huge brain drain, the country failed to increase productive opportunities.

Hence, we have no option but to depend on neighbouring countries,” he said.