Nepal's Budget Has Nearly Doubled, A Decade in Review
Summary
Nepal's national budget has nearly doubled over the past decade, growing from Rs. 12.78 Kharba in 2074/75 to Rs. 19.64 Kharba in 2082/83, reflecting increased public spending ambitions amid fiscal challenges.
Key Points
- Nepal's national budget increased from Rs. 12.78 Kharba in 2074/75 to Rs. 19.64 Kharba in 2082/83, a 54% rise over nine years.
- The budget growth was not always linear, with some years showing reductions likely due to economic stresses such as the COVID-19 pandemic.
- The government's reliance on loans has increased alongside budget size, emphasizing the importance of revenue collection.
- Minister Wagle emphasized the current fiscal year's budget aims at economic transformation with a focus on private sector development.
