Economy not in crisis: CNI

KATHMANDU: The Confederation of Nepalese Industries (CNI) claimed that the country’s economy is not in crisis.

Making a statement about the present economic situation at a press conference on Tuesday, the CNI said that none of the indicators hinted at the crisis.

President of CNI Vishnu Agrawal said the Nepali economy has not been in a crisis situation and stressed on the need to carry out the works related to the economy with caution.

There is no need to panic over the economic indicators, he said and urged not to spread the negative messages among the people citing that the country was in crisis.

He, however, said that there were some problems in the Nepalese economy due to the decline in foreign currency reserves and the growing balance of payments deficit.

“Our economy is not in trouble,” Agrawal said. But, the government and other concerned bodies should adopt any decision regarding the economy with restraint and not create panic in the market.”