National economy towards positive mode: Governor

KATHMANDU, DEC 3: 

Governor of Nepal Rastra Bank (NRB) Dr. Yubaraj Khatiwada said the national economy as a whole has been heading towards positive direction.

Speaking at a press meet organised by the NRB in the Capital on Friday, Governor Khatiwada said during the first quarter of the current fiscal year, there had been a reserve of 34 billion rupees in the balance of payment, export had increased seven percent and income from tourism sector had increased 29 percent, whereas remittances increased by 28 percent.

He said there was a possibility of a five percent economic growth this year and banks had 45 billion as deposit and investment could rise and that the revenue recovery was satisfactory.

Khatiwada said there was Rs. 13 billion in government treasury, enough investment could not be made in education and the service sector, and price of consumer products could not be improved because of increase in price of petroleum products and transport fares.

He said there was no shortage of Indian currency and there was reserve of Rs. 46 billion IC with NRB and that the Reserve Bank of India used to provide Rs. 4 billion annually. 

Source: THT