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Finance Minister Pun claims that Nepal's economy will grow by 3.9 percent in the current financial year
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Finance Minister Barshman Pun has claimed that the economic growth of the country will be 3.9 percent in the current financial year. Presenting the economic survey in the House of Representatives on Sunday, he said that the country's economic growth rate will increase by 3.9 percent in the current financial year.
Finance Minister Pun mentioned that although the activity of the manufacturing industry is reduced, the economic growth rate is estimated to be 3.9 percent due to the increased activity in agriculture and other sectors. The country's economic and social indicators are gradually improving. Despite the contraction in the production of the manufacturing industry and the construction sector, it is estimated that the country's economy will expand by 3.9 percent due to the expansion in the agriculture and service sectors,' he said.
Finance Minister Pun said that the total investment in the current fiscal year is estimated to increase by 2.8 percent to reach 17 trillion 41 billion. Similarly, he said that it is estimated that the per capita income will increase to 1 thousand 456 US dollars. According to Finance Minister Pun, the economic growth rate of Gandaki, Wagmati and Lumbini provinces is expected to be higher than the national average.
Finance Minister Pun said that the average consumer price increase will be 6.80 percent until the end of the current financial year. He said that revenue collection is gradually improving and the federal government's revenue collection has increased by 9.7 percent to 6 trillion 39 billion 50 million till February of the current financial year. He said that by February of the current financial year, the federal expenditure has increased by 2.9 percent and reached 8 trillion 1 billion 58 million. He said that the total public debt reached 23 trillion 88 billion 26 billion by February of the financial year.
Finance Minister Pun mentioned that internal debt is 49.6 percent and external debt is 50.4 percent of the total debt . He said that in the fiscal year 2079-080, the state and local levels received 3 trillion 97 billion 26 billion through financial transfers from the Union and 1 trillion 20 billion 26 billion through revenue sharing and 5 trillion 17 billion 62 billion.
