Economic crisis is over: PM Prachanda

By TRN Online, Kathmandu, Feb 18: Prime Minister Pushpa Kamal Dahal ‘Prachanda’ has said that the government is moving forward with special initiatives for the expansion of the revenue source base and foreign assistance.

Specifically, it is looking to upgrade revenue administration.

Addressing the queries raised in the House of Representatives (HoR), the PM said that the government is outlining a special plan to mitigate tax evasion, illegal trade and transactions.

The PM said that some of the economic indicators are now looking to improve meanwhile some indicators still look precarious.

The PM reminded that the balance of payment deficit was larger and the foreign exchange reserve was recorded at the very lowest point during the last year. 

He said that he could assure the house that the economy is now out of the crisis in the backdrop of last year’s liquidity crisis, rising interest rates and high inflation. 

The PM informed that he has been continuously holding discussions with all the ministries concerning service delivery, development issues, and its effectiveness and he is expecting is positive outcome soon.