Economic reform tops agenda as new government sets ambitious growth targets
Summary
Balendra Shah was sworn in as Nepal's prime minister with Swarnim Wagle as finance minister, setting ambitious economic growth targets and initiating reforms focused on tax relief, private sector confidence, and improved financial management.
Key Points
- Balendra Shah sworn in as prime minister and Swarnim Wagle appointed finance minister in Nepal's majority government.
- The government aims for 7% annual economic growth, raising per capita income above $3,000, and expanding the economy close to Rs10 trillion over five years.
- Finance Minister Wagle plans to implement High-Level Economic Reform Advisory Commission recommendations, dissolve the Revenue Investigation Department, and reform 15 laws.
- Challenges include improving revenue collection, capital expenditure, controlling expenditure, and balancing federal and local government finances for sustainable economic growth.
