Economic activities improving, NRB says

Kathmandu / March 16: The Nepal Rastra Bank (NRB) has said that country’s overall economic activities have witnessed progress during the first seven months of the current fiscal year, thanks to rise in agriculture, industry and service sectors.

Releasing the ‘Current Macroeconomic and Financial Situation’ of the country on Thursday, the central bank said that the entire production sector looks positive, with production of fruits and vegetables on the rise.

The report of the NRB states that industrial production has gone up due to regular power supply and capacity of the industries and foreign investments have improved.

The NRB has also said that the number of tourist ahead of the mountaineering and trekking season would increase and the booking of the hotel is 45 per cent in the review period.

According to the report submitted by the Department of Industry till the review period, the foreign investment in the country has increased by 24.3 per cent compared to the same period of the last fiscal year and reached a total of Rs 8.41 billion. For the investment, a total of 5,785 employment opportunities have been created, the bank said.

Similarly, the loan imbursement of the BFIs has increased by 15.1 per cent.

The NRB said that the inflation was limited to 3.3 per cent during the review period against 11.3 per cent of the same period of the last fiscal year.

The government financial status has improved but the government expenditure was slow in comparison to the revenue generation and a total of Rs 201.6 billion is in the state treasury, the central bank said. RSS