Forgot your password?
GDP Growth Target Unlikely to Achieve
By Kathmandu Metro Reporter in Kathmandu
On Friday, March 13, 2009, speaking on the mid-term review of the budget, Finance Minister Dr. Babu Ram Bhattarai said that the target of increasing the Gross Domestic Product by seven percent the government had set for this fiscal year as the base for achieving double-digit growth within the coming three years was unlikely to achieve according to the kantpuronline.com. The Finance Minister said that this was due to the slow pace of development caused by the shutdowns enforced by various political parties and students’ organizations and natural calamities such as floods, and the absence of local governments.
The finance Minister also said that the revenue collection has exceeded the target during the past six months of the fiscal year. The government has already collected Rs 79.6 billion out of the targeted Rs 141.72 billion for the fiscal year. He also said that the foreign aid receipts also exceeded by 34.6 percent.
Referring to the 14.4 percent price rise stated in the Nepal Rastra Bank report for the six months of this fiscal year, the Finance Minister stated that the government has been effortful to control the price rise intervening the market supplying the basic essential goods at fair prices through state-owned agencies.
