Government prioritises result-oriented projects for economic growth

KATHMANDU: Deputy Prime Minister and Minister for Finance Bishnu Prasad Paudel has emphasised the government's aspiration to achieve economic growth by increasing investment in promising projects. He highlighted that these projects will be carefully chosen based on a thorough assessment of their benefits and costs, ensuring effective management of investments.

During a meeting with Teresa Daban Sanchez, International Monetary Fund (IMF) Resident Representative for Nepal, today Minister Paudel reaffirmed the government's commitment to evaluating loans and investments in projects that yield tangible results.

Furthermore, Minister Paudel expressed the government's dedication to implementing policy reforms recommended during the fourth review of the IMF Extended Credit Facility (ECF) for Nepal. He assured cooperation with the IMF for the upcoming fifth review, as communicated by the Minister's Secretariat.

The IMF representative highlighted significant potential in Nepal's hydropower and tourism sectors, advising that targeted capital expenditure will contribute to both economic growth and the overall size of the economy.**

It's worth noting that the budget for the current fiscal year aims to achieve a 6% economic growth rate.