Mid-term budget review today; vivacities in sharemarket in anticipation of favorable policies from new FM
The finance ministry is expected to release the mid-term review report of the budget of FY2074-75 on Wednesday.
The share market in particular is waiting eagerly to see whether the newly appointed Finance Minister would bring some realistic policy reforms to address the present challenges being face by only share market in the country. There has been volatility in the share market in recent days expecting both the favorable and unfavorable environment for sharemarket after the arrival of the new Finance Minister Dr. Yubaraj Khatiwada.
In its budget for the current fiscal year, the outgoing government had set a growth target of 6.9 percent -- the highest in the past two and half decades. Development partners, including the World Bank and the Asian Development Bank, however, have already said that the economy of the country is estimated to grow at an average of 4.5 percent in the current fiscal year. Experts are also keenly awaiting the mid-term budget review of the government to see whether the government will roll back distributive programs of the erstwhile government.
Newly appointed Minister for Finance, Yubaraj Khatiwada, is all set to issue white paper to make public the current economic position of the country and the measures that the government plan to take to deal with the ongoing economic and financial challenges.
According to people privy to the matter, the ministry is doing internal homework to come up with the white paper that, among others, will outline the current economic challenges facing the country and the efforts that the government will make in the days to come to address those challenges.
With challenges to economy ballooning, the finance ministry is releasing the white paper amid slow revenue growth, widening trade deficit, negative balance of payment and current account positions and shortage of lendable fund in banking system.
The white paper is expected to address these challenges along with the issue of sharing and distribution of resources with the provincial and local governments. It also aims to spell out measures to reduce the ever-expanding trade deficit and the initiatives that the government will take to expedite capital-intensive development projects.
In its budget for the current fiscal year, the outgoing government had set a growth target of 6.9 percent -- the highest in the past two and half decades. Development partners, including the World Bank and the Asian Development Bank, however, have already said that the economy of the country is estimated to grow at an average of 4.5 percent in the current fiscal year. Experts are also keenly awaiting the mid-term budget review of the government to see whether the government will roll back distributive programs of the erstwhile government.
Newly appointed Minister for Finance, Yubaraj Khatiwada, is all set to issue white paper to make public the current economic position of the country and the measures that the government plan to take to deal with the ongoing economic and financial challenges.
According to people privy to the matter, the ministry is doing internal homework to come up with the white paper that, among others, will outline the current economic challenges facing the country and the efforts that the government will make in the days to come to address those challenges.
With challenges to economy ballooning, the finance ministry is releasing the white paper amid slow revenue growth, widening trade deficit, negative balance of payment and current account positions and shortage of lendable fund in banking system.
The white paper is expected to address these challenges along with the issue of sharing and distribution of resources with the provincial and local governments. It also aims to spell out measures to reduce the ever-expanding trade deficit and the initiatives that the government will take to expedite capital-intensive development projects.
