Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: Nepal’s latest economic report reveals a period of significant financial stability and growth. Consumer price inflation has dropped to just 1.63%, marking a major decrease from the 6.05% recorded at the same time last year. This cooling of prices is largely due to a decrease in food costs, which fell by over 2%.
On the financial side, Nepal’s foreign exchange reserves have surged to an impressive Rs. 3201.47 billion ($22.13 billion), providing enough cover for over 18 months of imports. A massive 35.6% jump in money sent home by Nepalis working abroad—remittances—has been a primary driver of this growth. While the country still spends more on imports than it earns from exports, the overall balance of payments remains in a healthy surplus.
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