The government has set a target of 6 percent economic growth for the next financial year 2023/24.
Unveiling the fiscal budget today, Finance Minister Dr. Prakash Sharan Mahat said that the goal of economic growth will be achieved if the economic situation improves.
Similarly, the government has aimed to limit inflation to 6.5 percent.
In the current financial year, the government had set an economic growth target of 8 percent, while the inflation target had been set at 7 percent.
Finance Minister Mahat informed that economic growth is expected to be 6 percent in the next fiscal year due to the dynamics created in the economy, revival, enthusiastic investment of the private sector and the investment made by the government in the economic and social sectors.
Mahat said that the balanced economic policy with economic growth and macroeconomic stability taken by the government will create the basis for sustainable development including institutional development.
In order to achieve the mentioned economic growth and maintain macroeconomic stability, Nepal Rastra Bank (NRB) is going to formulate a monetary policy to limit the inflation to 6.5 percent.
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