Despite the Epidemic, the Monetary System and the Financial Sector Remain Strong: Finance Minister

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Despite the economic crisis brought on by the epidemic, Nepal’s monetary position, index status, and exchange reserves are all favorable, and the financial is solid, according to Finance Minister Bishnu Prasad Poudel, who unveiled the economic review on Friday.

The second Covid-19, which began with the start of the 2078, has again posed a challenge to the dynamic economy and raised the risk, he claims. In 2076/77, Nepal’s economic growth rate was negative at .12 percent. Minister Poudel described the current growth rate 4.01 as R0;difficult.” The Central Statistics Office had previously forecast 4.01 percent GDP growth in the current fiscal year.

Finance Minister Poudel further stated that Rs. 1.32 billion been transferred to the social security fund. The contribution amount to be deposited on behalf workers and employers was paid to the Social Security Fund in the last four months of fiscal year 2076/77.

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