First Business News Portal in English from Nepal
KATHMANDU: Capital expenditure in the current fiscal year has continued to remain sluggish so far.
As per statistics maintained by the Financial Comptroller General Office (FCGO), the government has been able to spend merely 20.4 percent of the total amount allocated for the development projects in the first eight months of the current fiscal year.
The government spent only Rs 77.14 billion out of Rs 378 billion allocated for the capital expenditure, as per FCGO. It has been a perennial problem almost every year for the government to adequately exhaust the money allocated for the development activities. This is likely to affect the economic growth of the country hit hard by the COVID-19 pandemic. This in turn is likely to affect the creation of new jobs while also hitting the liquidity position with the banks.
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