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Nepal Government projects economic growth by average seven percent

(Health workers measure Prime Minister KP Sharma Oli’s fever on Thursday while attending a joint sitting of both houses of the federal parliament (House of Representatives and National Assembly), Kathmandu, June 3, 2020. Photo: Ratna Shrestha-RSS)

KATHMANDU:- Nepal Government has projected an average seven per cent economic growth rate for the fiscal year 2020/21. Monetary policies would be formulated to limit the inflation rate to seven percent, said Finance Minister Dr Yuba Raj Khatiwada while presenting budget for the FY, 2020/21 at the federal parliament on Thursday.
He expressed his confidence that country’s economy would be revitalized when COVID-19 effects would be normalised. “Nepal Rastra Bank will formulate monetary policies to help with the revitalisation of country’s economy as budget target and limit the inflation rate to seven percent,” he said.
The projection is based on immediate benefits from the FY, 2020/21, the expedition of the construction of under-construction projects within one year, progress in the construction of strategic important economy, social and physical infrastructure projects, completion of post-quake reconstruction and expansion of service sector.

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