Earn Money Nepal

Nepal Rastra Bank Unveils FY 2023/24 Macroeconomic Overview

Nepal Rastra Bank (NRB) has presented a comprehensive overview of Nepal’s current macroeconomic and financial status based on data from the first eight months ending mid-March 2023/24.

Inflation and Trade

  • Year-on-year inflation remained stable at 4.82%.
  • Gross foreign exchange reserves reached USD 14.14 billion.
  • Total imports decreased by 2.7%, exports by 4.0%, and trade deficit by 2.5%.
  • Concessional loans extended to various sectors totaled Rs. 149.30 billion.
  • NEPSE index rose to 2108.73 from 1953.06 a year ago.

Inflation Trends

  • Consumer price inflation moderated to 4.82%, down from 7.44%.
  • Wholesale price inflation decreased to 3.69%.
  • Merchandise exports fell by 4.0%, while imports decreased by 2.7%.
  • Remittance inflows increased by 21.0%.

Foreign Exchange and Reserves

  • Gross foreign exchange reserves grew by 21.7% to Rs. 1872.82 billion.
  • Reserves-to-imports ratio improved to 103.1%.
  • Exchange rate depreciated by 0.73% against the USD.
  • Government expenditure increased by 2.9% to Rs. 801.58 billion.
  • Revenue mobilization rose by 9.7% to Rs. 639.05 billion.

Banking and Credit

  • Domestic credit and claims on the private sector increased by 4.0% and 5.6% respectively.
  • Deposits at BFIs expanded by 7.6% to Rs. 435.87 billion.
  • Average base rates for commercial banks stood at 8.77%.

Balance of Payments

  • Balance of Payments remained in surplus at Rs. 327.55 billion.

Overall, Nepal’s economy shows resilience and positive growth indicators amidst global economic fluctuations.


Please enter your comment!
Please enter your name here