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It seems that remittances should be invested in productive sectors: Rashtra Bank
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Nepal Rastra Bank has stated that foreign exchange reserves are high as the remittances are encouraging. In the monetary policy of the financial year 2081/082 introduced by the National Bank on Friday, it is said that the inflow of remittances is encouraging, the foreign exchange reserves are high due to the contraction of imports as well as the increase in tourist arrivals.
The National Bank has also stated that remittances should be used for the construction of productive physical infrastructure, establishment of productive industries, import substitution and export promotion.
Similarly, it is mentioned in the monetary policy that the government's finances are under pressure while the government's revenue mobilization remains weak from the perspective that imports have decreased and its structural changes are taking place. As a result, the total outstanding public debt has almost doubled in the last decade and reached about 42.4 percent of the gross domestic product by June 2081. However, the proposed net internal debt mobilization for the financial year 2081/82 may not put much pressure on the interest rate when there is easy liquidity in the banking system, but the need for productive use of public debt remains.
प्रकाशित : श्रावण ११, २०८१ १३:००
