KATHMANDU: The administration's goal is to achieve economic growth by strategic investments in high-potential projects, as highlighted by Bishnu Prasad Paudel, the deputy prime minister and minister of finance. In order to achieve efficient investment management, Paudel emphasized the importance of thorough cost and benefit evaluations of projects during a meeting with Teresa Daban Sanchez, the IMF's resident representative in Nepal.
In his statement, Paudel restated the government's resolve to carry out the policy changes that were suggested in the course of the fourth IMF Extended Credit Facility (ECF) review for Nepal. Along with expressing his willingness to work with the IMF on the forthcoming fifth review, he demonstrated a proactive stance towards adhering to global financial rules.
It was stated by the IMF official that investment in these outcome-driven firms might accelerate Nepal's economic growth. The expert identified the tourism and hydropower sectors as having significant space for expansion and growth. The government's 2018 budget, which aspires for a six-percent economic growth, demonstrates its commitment to encouraging economic development through targeted expenditure.
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