Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU – The Government of Nepal has set an ambitious 7 percent economic growth target for the upcoming fiscal year 2083/84, signaling a push toward accelerated economic expansion, higher investment, and stronger domestic production.
Presenting the national budget in the Federal Parliament on Friday, Finance Minister Dr. Swarnim Wagle announced that the government expects the economy to grow by 7 percent in the next fiscal year.
The growth target represents a significant jump from the estimated 3.85 percent economic growth rate for the current fiscal year 2082/83, as projected by Nepal’s national statistics authority.
Alongside the growth projection, the government has also pledged to keep inflation below 6 percent, reflecting efforts to maintain macroeconomic stability while stimulating economic activity.
Finance Minister Wagle said the government’s fiscal and monetary coordination, infrastructure expansion, investment promotion, and production-oriented policies are expected to contribute to stronger economic performance in the coming year.
The economic target comes as Nepal seeks to recover from sluggish growth, weak private sector investment, and external economic pressures in recent years. Economists say achieving the 7 percent target will require stronger capital expenditure execution, industrial growth, improved business confidence, and increased domestic and foreign investment.
For fiscal year 2083/84, the government has introduced a Rs 2.124 trillion national budget, including Rs 1.270 trillion in recurrent expenditure, Rs 431 billion in capital spending, and Rs 422 billion allocated for financial management.
The budget framework is expected to focus on infrastructure development, digital transformation, energy expansion, private sector growth, and employment generation as Nepal aims to strengthen long-term economic resilience and improve overall economic performance.
Your email address will not be published. Required fields are marked *
Comment *
Name *
Email *
Website
Save my name, email, and website in this browser for the next time I comment.
