Gloomy economy due to political crisis: experts
KATHMANDU, May 26:
Economic experts have said the country’s economic has become gloomy due to political confusion and indifference of the state and parties towards economy.
Speaking at an interaction organised by Media Vision Nepal, former governor Dipendra Bahadur Chhetri said it was unfortunate that the budget allocated by the government couldn’t be spent on development.
The country’s economy is in crisis as prices of petroleum products couldn’t be determined due to political crisis, import is rising and export is the decreasing, and foreign aid couldn’t be spend, he said.
Another economic expert Dr Chiranjivi Nepal said even though the state allocated Rs 55 billion in development title in 2067/068 fiscal year, only 15 percent money was spent due to the ongoing political mess and lack of a permanent government.
Government budget amounting to Rs 25 billion is lying idle, Rs 62 billion was spent without any title in the past three years and out of 99 billion foreign aid only 20 billion could be spend, he said.
President of Nepal Chambers of Commerce Suresh Basnet said the country’s economy is collapsing as investment-friendly environment is out of sight, peace and security is hard to find, real estate transaction has come to nil, financial institutions are reeling under liquidity crisis due to the ongoing political crisis.
Source:THT
Economic experts have said the country’s economic has become gloomy due to political confusion and indifference of the state and parties towards economy.
Speaking at an interaction organised by Media Vision Nepal, former governor Dipendra Bahadur Chhetri said it was unfortunate that the budget allocated by the government couldn’t be spent on development.
The country’s economy is in crisis as prices of petroleum products couldn’t be determined due to political crisis, import is rising and export is the decreasing, and foreign aid couldn’t be spend, he said.
Another economic expert Dr Chiranjivi Nepal said even though the state allocated Rs 55 billion in development title in 2067/068 fiscal year, only 15 percent money was spent due to the ongoing political mess and lack of a permanent government.
Government budget amounting to Rs 25 billion is lying idle, Rs 62 billion was spent without any title in the past three years and out of 99 billion foreign aid only 20 billion could be spend, he said.
President of Nepal Chambers of Commerce Suresh Basnet said the country’s economy is collapsing as investment-friendly environment is out of sight, peace and security is hard to find, real estate transaction has come to nil, financial institutions are reeling under liquidity crisis due to the ongoing political crisis.
Source:THT
