KATHMANDU, Sept 26: The government's aspirations for the fiscal year 2023/24 that hinge on boosting economic activity and fostering business growth, face formidable challenges, as recent statistics from the months of Shrawan to Bhadra (mid-July to mid-September) do not bode well for their realization.
KATHMANDU, Sept 25: Nepal’s foreign trade volume declined 5.32 percent with a decline in both imports and exports in the first two months of the current fiscal year.
Nepal’s trade deficit stood at Rs 233.30 billion in the first two months of fiscal year 2023-24, that is, between mid-July and mid-September.
Nepal’s total exports slumped 21.4 per cent to Rs 157.14 billion in the last fiscal year compared to a surge of 41.7 per cent to an all-time high of Rs 200.03 billion in the fiscal year 2021-22. The country’s exports continued to contract in the first month of the current fiscal year, with a drop of 8.7 per cent to Rs 13.53 billion compared to the same month of last fiscal.
KATHMANDU, Sept 19: The government spent Rs 87.66 billion under recurrent expenditure in the first two months of the current fiscal year, which was less by Rs 21.06 billion compared to the review period of the last fiscal year.