Deputy Prime Minister and Minister for Finance Bishnu Prasad Paudel has said that Nepal has made significant progress in implementing the action plan prepared for achieving the Sustainable Development Goals (SDGs).
Addressing the inaugural ceremony of the High-Level Regional Consultation on Finance for Development in the Asia-Pacific region held in Bangkok, the capital of Thailand, Finance Minister Paudel said that collective efforts have led to significant progress in implementing the Sustainable Development Goals agenda, even with limited resources.
Expressing the view that financial inclusion is an important issue for the continuation of the development momentum in underdeveloped and developing countries, Finance Minister Paudel said that budget planning, efficiency in resource allocation, effective project implementation capacity development, and sustainable expenditure management are growing challenges.
Stating that most underdeveloped and developing countries are struggling to improve their revenue mobilization capacity, Poudel noted that there is a need to strengthen and make the capacity of tax administration effective by bringing new modalities of digital economic transactions under the tax ambit.
Finance Minister Paudel said that the current global economic and social uncertainties, geopolitical problems, increasing public debt burden, and economic inequality need to be resolved through collective efforts.
Stating that public debt management is another important issue for less developed and developing countries, Finance Minister Poudel highlighted public debt management as a crucial issue for less developed and developing countries. He emphasized the need to allocate public debt to productive and profitable sectors in the future.
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