Finance Minister Janardan Sharma has said government had prioritized the control of excessive import of agricultural items which can be produced within the country. It would help strengthen national economy, he argued.
He admitted that national economy witnessed stress due to COVID pandemic, unseasonal rains, and Russia-Ukraine conflict. However, the effects should be minimized gradually, Sharma added.
Minister Sharma was saying it in response to the lawmakers' query on priority and principles of forthcoming appropriation bill. Finance Minister urged everyone not to politicize the economic problem, arguing it as a crisis.
He presented the data from Central Bureau of Statistics that the economic growth rate was near six percent amid various challenges. If the situation was normal, the country would have speedy economic growth.
Although it was expected to limit the inflation at 6.5, it increased slightly, he said, adding that country imported the things amounting Rs 1,600 billion while exports was worth Rs 173 billion. The foreign exchange reserve is also decreased slightly, he added.
According to him, the government at present was implementing the budget prepared by the previous government. He informed that the plan to construct 50-km-long road at the cost of Rs 2.4 million was terminated for now. However, the road construction which had passed contract procedure was continued unabated.
The Finance Minister said the budget priorities and principles were set as per national need. The aspiration of downtrodden people from across the country would be addressed in the budget priorities.
Source: National News Agency Nepal