Upcoming Budget to Focus on Economic Transformation: Finance Minister Wagle

Minister for Finance Dr. Swarnim Wagle has said that the upcoming national budget, scheduled to be presented on Jestha 15, will prioritize economic transformation and strengthen overall economic governance.

Speaking during an interaction with representatives of the Nepal Association of Financial Journalists (NAFIJ) at his office in Singha Durbar on Monday, Minister Wagle outlined the government’s vision on key economic and policy issues. He stated that the current administration is committed to ensuring effective economic governance alongside political stability.

The Finance Minister revealed that the upcoming budget will introduce significant measures for the reform and management of state-owned enterprises. He added that discussions are ongoing regarding new operational modalities for some institutions, including the Gorkhapatra Corporation.

Addressing concerns over recent developments, Dr. Wagle said the government would intensify investigations related to money laundering. He warned that strict action would be taken against those involved in illegal financial transactions.

He further noted that such initiatives are part of efforts to remove Nepal from the Financial Action Task Force (FATF) ‘grey list.’ According to him, several long-pending cases that had remained stalled for years are now being actively pursued.

On a separate note, the minister said the government has adopted precautionary measures in response to the escalating conflict in the Middle East. As part of efforts to reduce fuel consumption and promote austerity, the Cabinet has decided to implement a two-day public holiday per week in government offices, effective immediately.

The Finance Minister also clarified that the government is prioritizing the rescue of Nepali citizens who are stranded or facing difficulties in conflict-affected countries, rather than attempting to repatriate all Nepalis living abroad, which number over 2.5 million.

During the discussion, NAFIJ President Menuka Karki urged the government to introduce practical and effective policies to boost economic growth. She emphasized that large budgets often face implementation challenges and called for realistic and result-oriented planning.

Minister Wagle reiterated the government’s commitment to delivering a budget that addresses current economic challenges while laying the foundation for long-term transformation.