Instability to cost Nepal dear in 2021
After a year of stagnation due to the COVID-19 crisis, Nepal’s economy has just started getting back on track
After a year of stagnation due to the COVID-19 crisis, Nepal’s economy has just started getting back on track. But political uncertainty once more threatens to derail it.
Just as Nepal Rastra Bank put out an optimistic economic report last week, Nepal plunged once more into instability as the ruling Nepal Communist Party (NCP) headed for a split after Prime Minister Oli’s dissolution of the Lower House on 20 December.
All macro-economic indicators were looking up: foreign exchange reserves and balance of payment situations have improved, the trade deficit has narrowed, remittances from Nepali workers overseas is robust, bank lending rates are going down, and as economic activity picks up even tax revenue is looking satisfactory.
https://www.nepalitimes.com/latest/instability-to-cost-nepal-dear-in-2021/
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