Second phase of economic reform begins: Finance Minister Mahat

KATHMANDU: Finance Minister Prakash Sharan Mahat has said the second phase of economic reform has started in the country with the inception of the implementation of the budget for the upcoming fiscal year 2023/24. Minister Mahat on Monday said the economy in the country is on the way to improvement and the implementation of the upcoming fiscal year's policies and programmes will bring about more positive vibes in the economy. "The new budget is proposed to bring the economy on track. The second phase of reform has started with this. We have to intensify this reform," Minister Mahat said. The first stage of economic reforms started in the country with the incorporation of economic liberalisation and open market in the early 1980s. The Finance Minister also claimed that the indicators of the economy have shown positive signs lately adding that the foreign exchange reserve has increased and tourism industry has progressed. The finance minister further said that the bank's interest rate is likely to decrease. The economy will gain momentum after Nepal Rastra Bank issue the new monetary policy for the upcoming fiscal year. Minister Mahat expressed confidence that the monetary policy will have some relaxed provisions in coordination with the fiscal policy unveiled by the government. By RSS READ ALSO:

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