'Government advancing reforms to end economic slowdown'
Summary
Finance Minister Dr. Swarnim Wagle says Nepal’s economic slowdown stems from long-standing structural weaknesses, political instability and external shocks, and the government is advancing reform measures to restore investor confidence. The government has approved relief and recovery packages for flood-hit businesses and is preparing wider reforms to capital markets and private-sector investment.
Key Points
- Finance Minister Dr. Swarnim Wagle said Nepal’s slowdown is driven by long-term financial distortions, weak capital spending, external shocks, political instability and policy weaknesses.
- He said the government is moving ahead with reform programmes and five immediate priorities, including business recovery, capital market restructuring and investment promotion.
- The government has approved a 20-point relief and recovery package for industries affected by recent floods and landslides.
- Nepal Chamber of Commerce president Kamlesh Kumar Agrawal and FNCCI president Anjan Shrestha urged stronger economic freedom and targeted relief for flood-hit businesses.
