Government projects 7 percent economic growth for FY 2018/19

Kathmandu / May 27: Government has projected seven percent economic growth for the fiscal year 2019/20. Presenting the economic survey for the fiscal year 2018/19, Finance Minister Yubaraj Khatiwada claimed that most of the financial, social and physical infrastructure indicators are in rising because of which the country will experience high economic growth in the upcoming fiscal year.

“Due to the political stability, the country has created a friendly environment for the investment in the current fiscal year due to which the economic indicators have reached to satisfying level”, Minister Khatiwada added.

Speaking at the parliament, Minister Khatiwada revealed that per capita income, gross domestic product and saving capacity of the people have significantly increased in the current fiscal year and claimed that the poverty level of the country has dropped.

Likewise, Minister Khatiwada has predicted that 1000 Mw electricity will be added in the national grid in the upcoming fiscal year. He said the regular supply of the electricity has helped in the smooth operation of various development projects.

Government presents the economic survey every year before presenting the annual budget for the new fiscal year. Minister Khatiwada is scheduled to present the annual budget for the fiscal year 2019/20 on Wednesday at 4 pm. Speaker Krishna Bahadur Mahara informed the meeting of the parliament on Monday about the timetable of the budget presentation. As per the constitution government should present the annual budget on Jestha 15 of the Nepali calendar.

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